Woods County, Oklahoma Property Taxes
The median property tax rate in Woods County is 0.70%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $89,049 in Woods County, the typical annual property tax bill amounts to $565, significantly below the national median of $2,690. Property taxes in Woods County are calculated based on the tax assessed value, which is often less than the actual market value due to various property tax exemptions, such as those for primary residences and agricultural properties. Understanding Woods County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide substantial annual savings. Whether you live in Alva or another part of Woods County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Woods County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$623
$578
Ownwell’s Woods County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Woods County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Woods County to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Woods County, Oklahoma
Property taxes in Woods County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Woods County is 0.70%, which is lower than the U.S. national median of 0.99%. Local government entities within Woods County set these rates annually, and they can vary significantly between different areas within the county. Each year, Woods County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Woods County's effective property tax rate with other counties and the national median. For comparison, the city of Capron has one of the higher property tax rates in the region at 0.81%, while the city of Cleo Springs boasts one of the lowest at 0.41%. Analyzing how Woods County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Woods County Tax Rate
0.70%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Woods County, Oklahoma
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Aline | 0.36% | 0.49% | 0.54% | 0.66% | 0.94% |
| Alva | 0.35% | 0.52% | 0.73% | 0.84% | 0.86% |
| Capron | N/A | N/A | N/A | N/A | N/A |
| Carmen | 0.26% | 0.33% | 0.37% | 0.49% | 0.60% |
| Cleo Springs | N/A | N/A | N/A | N/A | N/A |
| Dacoma | 0.23% | 0.36% | 0.47% | 0.56% | 0.66% |
| Freedom | 0.24% | 0.33% | 0.46% | 0.62% | 0.86% |
| Hopeton | N/A | N/A | N/A | N/A | N/A |
| Waynoka | 0.38% | 0.55% | 0.75% | 0.92% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Woods County, Oklahoma
In Woods County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Woods County Appraisal District. The assessed value, however, is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. Assessment notices in Woods County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Woods County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. In Woods County, the city with the highest median tax bill is Aline at $990, while Capron has the lowest at $115. This contrast highlights the importance of understanding your specific property valuation to manage your tax obligations effectively.
Average Woods County Assessed Value
$89,049
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Woods County, Oklahoma
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Aline | $61,929 | $98,432 | $184,451 | $229,111 | $275,785 |
| Alva | $43,079 | $62,248 | $94,463 | $148,808 | $229,040 |
| Capron | N/A | N/A | N/A | N/A | N/A |
| Carmen | $102,847 | $133,524 | $171,057 | $256,101 | $279,511 |
| Cleo Springs | N/A | N/A | N/A | N/A | N/A |
| Dacoma | $50,326 | $64,416 | $96,737 | $144,233 | $244,131 |
| Freedom | $36,860 | $52,162 | $84,736 | $140,347 | $207,917 |
| Hopeton | N/A | N/A | N/A | N/A | N/A |
| Waynoka | $24,761 | $33,295 | $54,915 | $101,975 | $192,806 |
Source: Ownwell
Property Tax Bills Across Woods County, Oklahoma
In Woods County, OK, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. This assessed value is then multiplied by the local tax rate to determine the tax bill. Factors such as the property's location, size, and improvements can influence its assessed value. For instance, the median home price in Woods County is $89,049, and tax bills can range significantly depending on the property's characteristics and location. Homeowners in Woods County can expect a wide range of property tax bills. The 25th percentile tax bill is $307, while the 75th percentile reaches $1,003, and the 90th percentile can go up to $1,656. The highest median tax bill in the county is $990 in Aline, whereas the lowest is $115 in Capron. These variations highlight how local factors and property assessments significantly impact what homeowners owe, making it crucial for them to understand how these elements affect their property tax bills.
Average Woods County Tax Bill
$565
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Woods County, Oklahoma
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Aline | $269 | $490 | $990 | $1,226 | $1,818 |
| Alva | $207 | $345 | $624 | $1,074 | $1,717 |
| Capron | N/A | N/A | N/A | N/A | N/A |
| Carmen | $347 | $474 | $566 | $1,238 | $1,564 |
| Cleo Springs | N/A | N/A | N/A | N/A | N/A |
| Dacoma | $186 | $273 | $469 | $685 | $1,064 |
| Freedom | $138 | $221 | $389 | $661 | $1,148 |
| Hopeton | N/A | N/A | N/A | N/A | N/A |
| Waynoka | $120 | $216 | $398 | $815 | $1,524 |
Source: Ownwell