Woodward County, Oklahoma Property Taxes
The median property tax rate in Woodward County is 0.75%, 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 $96,888, the typical annual property tax bill amounts to $683, significantly below the national median of $2,690. Property taxes in Woodward County are calculated based on the tax assessed value, which often falls below the actual market value due to various property tax exemptions like primary residence and agricultural exemptions. Understanding Woodward 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 Woodward or another part of the county, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Woodward County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$727
$674
Ownwell’s Woodward County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Woodward County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Woodward 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 Woodward County, Oklahoma
Property taxes in Woodward County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Woodward County is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities within Woodward County set these rates annually, and they can vary significantly between different areas within the county. Each year, Woodward 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 Woodward County's effective property tax rate with other areas in Oklahoma and the national median. For comparison, the city of Woodward has one of the higher property tax rates in Oklahoma at 0.79%, while the city of Arnett boasts one of the lowest at 0.45%. Analyzing how Woodward County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Woodward County Tax Rate
0.75%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Woodward County, Oklahoma
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Arnett | 0.33% | 0.36% | 0.45% | 0.56% | 0.68% |
| Chester | 0.47% | 0.63% | 0.77% | 0.81% | 0.93% |
| Fargo | 0.35% | 0.47% | 0.53% | 0.77% | 0.85% |
| Fort Supply | 0.26% | 0.38% | 0.60% | 0.81% | 0.81% |
| Freedom | 0.35% | 0.50% | 0.61% | 0.75% | 0.85% |
| Mooreland | 0.36% | 0.49% | 0.65% | 0.86% | 0.98% |
| Mutual | 0.38% | 0.51% | 0.66% | 0.85% | 1.00% |
| Seiling | N/A | N/A | N/A | N/A | N/A |
| Sharon | 0.39% | 0.49% | 0.65% | 0.84% | 0.96% |
| Vici | 0.35% | 0.44% | 0.58% | 0.77% | 0.86% |
| Woodward | 0.45% | 0.60% | 0.79% | 0.95% | 1.00% |
Source: Ownwell
Property Tax Assessment Values Across Woodward County, Oklahoma
In Woodward 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 Woodward 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 Woodward 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. Woodward County's highest median tax bill is $925 in Seiling, while Fort Supply has the lowest at $282. The median home price in the county is $96,888. Being aware of these valuation processes in Woodward County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Woodward County, Oklahoma
Source: Ownwell
$50,630
$98,804
$146,978
Average Woodward County Assessed Value
$96,888
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Woodward County, Oklahoma
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Arnett | $73,171 | $95,597 | $110,435 | $149,454 | $305,503 |
| Chester | $56,945 | $62,445 | $83,737 | $164,081 | $294,345 |
| Fargo | $69,715 | $100,823 | $126,133 | $179,175 | $213,369 |
| Fort Supply | $21,965 | $32,930 | $50,630 | $86,331 | $128,037 |
| Freedom | $63,204 | $101,958 | $146,978 | $226,165 | $312,701 |
| Mooreland | $40,312 | $64,049 | $103,349 | $151,510 | $225,715 |
| Mutual | $48,551 | $78,745 | $116,664 | $180,440 | $268,500 |
| Seiling | N/A | N/A | N/A | N/A | N/A |
| Sharon | $43,029 | $69,161 | $110,902 | $159,884 | $233,014 |
| Vici | $60,438 | $79,884 | $126,064 | $199,016 | $266,541 |
| Woodward | $34,084 | $55,972 | $96,184 | $153,730 | $244,935 |
Source: Ownwell
Property Tax Bills Across Woodward County, Oklahoma
In Woodward County, OK, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. The county's tax rate is applied to this assessed value to determine the final tax bill. Several factors influence the assessed value, including the property's location, size, and condition. For instance, the median home price in Woodward County is $96,888, and property taxes can vary significantly within the county. Homeowners in Woodward County can expect their tax bills to fall between $365 and $1,177, depending on their property's specifics. For those in the 90th percentile, tax bills can reach up to $2,026. Comparing this to the national median property tax rate of 0.99%, Woodward County offers relatively affordable property taxes. In cities like Seiling, the highest median tax bill is $925, while Fort Supply has the lowest at $282. These variations can significantly impact homeowners' financial planning and long-term investment in their properties.
Average Woodward County Tax Bill
$683
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Woodward County, Oklahoma
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Arnett | $290 | $372 | $479 | $828 | $1,646 |
| Chester | $326 | $490 | $724 | $955 | $2,099 |
| Fargo | $306 | $546 | $711 | $1,017 | $1,343 |
| Fort Supply | $96 | $162 | $282 | $520 | $756 |
| Freedom | $371 | $443 | $844 | $1,630 | $2,122 |
| Mooreland | $203 | $343 | $623 | $1,052 | $1,653 |
| Mutual | $274 | $449 | $720 | $1,194 | $2,106 |
| Seiling | N/A | N/A | N/A | N/A | N/A |
| Sharon | $236 | $404 | $669 | $1,052 | $1,692 |
| Vici | $308 | $412 | $722 | $1,097 | $1,945 |
| Woodward | $204 | $376 | $714 | $1,237 | $2,142 |
Source: Ownwell