Example of Wagoner County Property Tax Calculation
Wagoner County property tax calculations are based on the assessed value of a property. The assessed value is determined by the county assessor and is typically a percentage of the property's fair market value.
For example, if a property in Wagoner County has a fair market value of $100,000 and the assessed value is set at 75%, then the assessed value would be $75,000.
To calculate the property tax, the assessed value is multiplied by the county's mill rate. A mill rate is a tax rate expressed in mills or thousandths of a dollar. For Wagoner County, the mill rate is currently 127.81 mills.
Using the example above, to calculate the property tax, the assessed value of $75,000 would be multiplied by the mill rate of 127.81 mills. This would result in a property tax of $9,585.75.
It's important to note that property tax rates and mill rates can vary depending on different factors such as the location of the property and any special assessments that may apply. It's always best to consult with the county assessor's office to get accurate and up-to-date information on property tax calculations for your specific property in Wagoner County.
If you want appeal your property tax assessment - contact your local tax assessor.
Wagoner County Property Tax Rates
The Wagoner County Property Tax rates are as follows:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County | $0.8438 |
| School | $1.0700 |
| City | Varies, depending on location |
| Fire | $0.0500 |
| Library | $0.2400 |
It is important to note that the city tax rate varies depending on the location within Wagoner County.
Who sets property tax rates in Wagoner County ?
Who sets property tax rates in Wagoner County?
The Wagoner County Board of County Commissioners is responsible for setting property tax rates in the county.
When are property tax rates set in Wagoner County?
Property tax rates are typically set during the annual budget process, which begins in the summer and concludes in the fall. The specific date can vary from year to year, but property owners in Wagoner County can expect to receive their tax bills in late November.
Homestead exemptions in Wagoner County ?
Table: Wagoner County Homestead Exemptions and Deductions
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| County Assessor's Homestead Exemption | Primary residence of Wagoner County residents | Up to $1,000 | Must apply by March 15th |
| Additional Homestead Exemption for Persons Age 65 or Older | Primary residence of persons age 65 or older | Up to $1,000 | Must apply by March 15th |
| Additional Homestead Exemption for Disabled Persons | Primary residence of persons with disabilities | Up to $1,000 | Must apply by March 15th |
| Military Tax Exemption | Military personnel on active duty, their spouses, and surviving spouses | Exemption of up to $1,000 from taxable property value | Must provide proof of military service |
| Agricultural Land Exemption | Land used for agriculture purposes | Up to 100% exemption | Must apply by March 15th |
| School District Property Tax Exemption | Property used for school purposes | Up to 100% exemption | Must be approved by the Wagoner County Board of Education |
Notes:
- Eligibility requirements and application deadlines can vary for each exemption or deduction.
- It's recommended to contact the Wagoner County Assessor's Office for more information and assistance with applications.
When is Wagoner County Property Tax due ?
Wagoner County Property Tax is typically due on December 31st of each year. However, if that day falls on a weekend or holiday, the due date will be the next business day. It is important to note that failure to pay on time will result in penalties and interest fees.
There are several payment methods available for taxpayers in Wagoner County. These include:
-
Online Payment: Taxpayers can pay their property taxes online through the Wagoner County Treasurer's website using a credit or debit card.
-
Mail-in Payment: Taxpayers can mail their payment to the Wagoner County Treasurer's office. The mailing address is provided on the tax bill.
-
In-person Payment: Taxpayers can also pay their taxes in-person at the Wagoner County Treasurer's office. Accepted forms of payment include cash, check, money order, and credit/debit card.
-
Payment Plan: Taxpayers who are unable to pay their tax bill in full may qualify for a payment plan. This option allows taxpayers to pay their taxes in installments over time.
Overall, it is important for taxpayers in Wagoner County to be aware of the due date for their property taxes and to make payment arrangements in a timely manner to avoid penalties and interest fees.
If you have more questions - contact your local tax collector.
How is Wagoner County Property Tax penalty calculated ?
Wagoner County calculates property tax penalty based on the amount of unpaid taxes and the time passed since the payment deadline. Here's an example to explain the calculation process:
Let's say that John owns a property in Wagoner County and his annual property tax bill is $2,000, which is due on December 31st. John fails to pay his tax bill by the deadline, and after 30 days, the county starts charging him a penalty of 1% per month on the unpaid balance.
Therefore, if John pays his tax bill on January 31st (one month late), he would incur a penalty of $20 (1% of $2,000). If he pays on February 28th (two months late), the penalty would be $40 (1% of $2,000 for each month).
The penalty continues to accrue every month until John pays his tax bill in full. So, if he pays on March 31st (three months late), he would owe $60 (1% of $2,000 per month for three months).
To summarize, the formula for calculating Wagoner County property tax penalty is:
Penalty amount = (tax amount x penalty rate x number of months late)
| Variable | Meaning |
|---|---|
| Tax amount | The amount of property tax owed |
| Penalty rate | The rate at which the penalty is calculated (1% per month in Wagoner County) |
| Number of months late | The number of months after the payment deadline that the property tax remains unpaid |
It's essential to pay property taxes on time to avoid incurring penalties, as they can accumulate quickly and add up to a significant amount.
We recommend contacting the Wagoner County Tax Office or a local tax professional for the most up-to-date and accurate information.