Example of Washita County Property Tax Calculation
In Washita County, property taxes are calculated based on the assessed value of the property. The assessed value is determined by the county assessor's office and is equal to 11.5% of the property's fair market value.
Once the assessed value is determined, the property tax rate is applied. The tax rate varies depending on where the property is located and what type of property it is. For example, residential properties are taxed at a different rate than commercial properties.
To calculate the property tax owed, the assessed value is multiplied by the tax rate. For example, if a residential property in Washita County has an assessed value of $100,000 and the tax rate is 1%, the property taxes owed would be $1,000.
It's important to note that property taxes are due annually and can be paid in installments or as a lump sum. Failure to pay property taxes can result in penalties and even foreclosure on the property.
In summary, Washita County property taxes are calculated based on the assessed value of the property and the applicable tax rate. It's important for property owners to stay on top of their tax payments to avoid any issues in the future.
If you want appeal your property tax assessment - contact your local tax assessor.
Washita County Property Tax Rates
The following table lists the property tax rates for Washita County:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County General Fund | $0.1198 |
| County Health Department | $0.0080 |
| County Library | $0.0646 |
| County Emergency Management | $0.0050 |
| County Ambulance Service | $0.0110 |
| County Fair Board | $0.0100 |
| County Extension Service | $0.0080 |
| County Fire Protection | $0.0500 |
| School District | Varies by district |
Please note that the school district tax rate varies depending on the specific district within Washita County. It is recommended to check with the relevant district for specific information regarding their tax rates.
Who sets property tax rates in Washita County ?
In Washita County, property tax rates are set by the Washita County Board of Commissioners. This is done on an annual basis, typically in the late summer or early fall, in order to determine the funding needs for the upcoming fiscal year. The rates are established based on the assessed value of the property in question, with higher values resulting in higher tax rates. The Board of Commissioners also has the authority to adjust rates as necessary throughout the year, in response to changing economic conditions or other factors. Overall, property tax rates in Washita County are designed to provide necessary funding for local government services and infrastructure, while remaining fair and equitable for all property owners.
Homestead exemptions in Washita County ?
In Washita County, Oklahoma, there are several Homestead exemptions and deductions available for eligible homeowners. To help you navigate this process, here is a breakdown of the different exemptions and deductions available in Washita County:
Homestead Exemptions
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Standard Homestead Exemption | All homeowners | Up to $1,000 | Applied to assessed value of the property |
| Senior Citizen and Disabled Person Homestead Exemption | Homeowners 65+ or disabled | Up to $1,000 | Applied to assessed value of the property |
| Additional Homestead Exemption for Veterans | Veterans with a disability and their surviving spouse | Up to $1,000 | Applied to assessed value of the property |
| Homestead Exemption for Agricultural Land | Homeowners using the property for agricultural purposes | Up to 100% | Applied to assessed value of the agricultural land |
Deductions
| Deduction | Eligibility | Amount | Notes |
|---|---|---|---|
| School District Millage Deduction | All homeowners | Varies based on school district | Applied to assessed value of the property |
| County Equalization Board/Board of County Commissioners Deduction | All homeowners | Up to 3% | Applied to assessed value of the property |
| Homestead Application Filing Fee Deduction | All homeowners | Up to $25 | Fee waived for certain exemptions |
It is important to note that eligibility and amounts may vary depending on individual circumstances. Homeowners should consult with their local county assessor's office for more information and to determine their eligibility for these exemptions and deductions.
Overall, Washita County offers several Homestead exemptions and deductions to help eligible homeowners reduce their property tax burden. By taking advantage of these opportunities, homeowners can potentially save thousands of dollars each year.
When is Washita County Property Tax due ?
Washita County Property Tax is typically due on December 31st of each year. Here are some details on payment methods:
Payment Methods
| Method | Description |
|---|---|
| In-person | Payments can be made in person at the Washita County Treasurer's office located at 111 E Main St, Cordell, OK 73632. |
| Payments can be mailed to the Washita County Treasurer's office at PO Box 547, Cordell, OK 73632. | |
| Online | Payments can be made online through the Washita County Treasurer's website using a credit or debit card or e-check. An additional processing fee will apply. |
It is important to note that if taxes are not paid by December 31st, interest and penalties may be added to the amount owed. It is recommended that payments be made before the deadline to avoid any additional fees.
If you have more questions - contact your local tax collector.
How is Washita County Property Tax penalty calculated ?
Washita County Property Tax Penalty Calculation
When a property owner fails to make payment on time, Washita County will charge a penalty to their property tax bill. The penalty is calculated based on the amount of the unpaid tax, and it increases over time until the tax is paid in full.
The penalty rate is as follows:
| Time since due date | Penalty rate |
|---|---|
| 1-30 days late | 5% |
| 31-60 days late | 10% |
| 61-90 days late | 15% |
| Over 90 days late | 20% |
For example, if a property owner owes $1,000 in property taxes and fails to pay on time, the penalty calculation would be as follows:
- If the owner pays within 30 days of the due date, the penalty would be $50 (5% of $1,000).
- If the owner pays between 31-60 days late, the penalty would be $100 (10% of $1,000).
- If the owner pays between 61-90 days late, the penalty would be $150 (15% of $1,000).
- If the owner pays over 90 days late, the penalty would be $200 (20% of $1,000).
It is important to note that the penalty is in addition to the original property tax amount owed, and interest may also accrue on unpaid taxes. Therefore, it is highly recommended that property owners pay their taxes on time to avoid penalties and additional costs.
We recommend contacting the Washita County Tax Office or a local tax professional for the most up-to-date and accurate information.