Waynoka, Woods County, Oklahoma Property Taxes
The median property tax rate in Waynoka, OK is 0.75%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Waynoka at $54,915, the typical annual property tax bill amounts to $398, significantly below the national median of $2,690. Property taxes in Waynoka are calculated based on the assessed value, which often falls below the market value due to various exemptions like those for primary residences and agricultural land. Understanding Waynoka's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Waynoka or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Waynoka, Woods County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$412
$382
Ownwell’s Waynoka Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Waynoka with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waynoka to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Waynoka, Woods County, Oklahoma
Property taxes in Waynoka, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waynoka is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities within Waynoka set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waynoka estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Waynoka's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the highest median property tax rate in Woods County is also 0.75%, while the lowest median tax rate is 0.75%. Understanding how these cities compare with Waynoka provides valuable insights into the varying tax landscape across Woods County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Waynoka Tax Rate
0.75%
Average Woods County Tax Rate
0.70%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waynoka, Woods County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73860 | 0.38% | 0.55% | 0.75% | 0.92% | 1.02% |
Source: Ownwell
Property Tax Assessment Values Across Waynoka, Woods County, Oklahoma
In Waynoka, Oklahoma, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Woods County Assessor for tax purposes. In contrast, the assessed value 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. In Waynoka, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Waynoka helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Waynoka is $54,915, with median annual tax bills ranging from $216 at the 25th percentile to $1,524 at the 90th percentile. Specifically, the zip code 73860 has the highest and lowest median tax bill of $398.
Property Tax Assessment Values Across Waynoka, Woods County, Oklahoma
Source: Ownwell
$54,915
$119,683
$184,451
Average Waynoka Assessed Value
$54,915
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 Waynoka, Woods County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73860 | $24,761 | $33,295 | $54,915 | $101,975 | $192,806 |
Source: Ownwell
Property Tax Bills Across Waynoka, Woods County, Oklahoma
In Waynoka, Woods County, OK, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The assessed value is typically a percentage of the market value, and this figure is then multiplied by the local tax rate. For homeowners in Waynoka, the median home price is $54,915. Property tax bills can vary significantly; at the 25th percentile, the tax bill is $216, while at the 75th percentile, it rises to $815. For those at the 90th percentile, the tax bill can reach up to $1,524. These values reflect how property taxes can impact homeowners differently based on their property's assessed value and the local tax rate. Compared to the national median property tax rate of 0.99%, Waynoka's tax rates offer a unique perspective on property tax burdens within the region. The highest and lowest median tax bills in the area, both at $398, further illustrate the range of property tax obligations homeowners may encounter.
Average Waynoka Tax Bill
$398
Average Woods County Tax Bill
$565
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Waynoka, Woods County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73860 | $120 | $216 | $398 | $815 | $1,524 |
Source: Ownwell