Wynnewood, Garvin County, Oklahoma Property Taxes
Median Wynnewood, OK effective property tax rate: 0.78%, significantly lower than the national median of 1.02%, but lower than the Oklahoma state median of 0.97%.
Median Wynnewood, OK home value: $73,090
Median annual Wynnewood, OK tax bill: $523, $1,877 lower than the national median property tax bill of $2,400.
How are property taxes in Garvin County calculated?
Property taxes in Wynnewood, OK are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Wynnewood’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Wynnewood, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Wynnewood, Garvin County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.78%
Estimate Property Tax Bill
$570
$529
Property Tax Rates Across Wynnewood, Garvin County, Oklahoma
Local government entities are responsible for setting tax rates, which can vary significantly within a state. This variation is due to each county's annual budget estimation process. Counties determine the total funds needed to provide essential services and then divide this amount by the total value of all taxable property within their jurisdiction, resulting in the property tax rate. Although voting and legislation play roles in establishing tax rates and budgets, this is the core of the annual process.
In Wynnewood, located in Garvin County, Oklahoma, the effective property tax rate can be compared to other cities in the state and the median property tax rates in Oklahoma and the U.S. The median property tax rate in Oklahoma is lower than the national median of 1.02%, which can be an attractive factor for homeowners in the state. Understanding these rates can help property owners make informed decisions about appealing their property taxes or seeking exemptions. By staying informed about local tax rates, property owners in Wynnewood can better navigate their financial obligations and potentially reduce their tax burden.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Wynnewood Tax Rate
0.78%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Garvin County Tax Rate
0.69%
Median Effective Oklahoma Tax Rate
0.97%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Wynnewood, Garvin County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73098 | 0.38% | 0.57% | 0.78% | 0.94% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Wynnewood, Garvin County, Oklahoma
When examining property taxes in Wynnewood, OK, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Garvin County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Garvin County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Wynnewood. For example, the median home price in Wynnewood is $73,090, with tax bills ranging significantly across the county. 73098 has the highest median home price at $73,090.
Property Tax Assessment Values Across Wynnewood, Garvin County, Oklahoma
Source: Ownwell
$60,180
$130,090
$200,000
Median Wynnewood Market Value
$73,090
Median Garvin County Market Value
$84,504
Median Oklahoma Market Value
$137,280
Median United States Market Value
$235,294
Property Tax Assessment Values Across Wynnewood, Garvin County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73098 | $29,132 | $45,915 | $73,090 | $120,292 | $196,439 |
Source: Ownwell
Property Tax Bills Across Wynnewood, Garvin County, Oklahoma
Median Wynnewood Tax Bill
$523
Median Garvin County Tax Bill
$559
Median Oklahoma Tax Bill
$1,269
Median United States Tax Bill
$2,400
Property Tax Bills Across Wynnewood, Garvin County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73098 | $153 | $300 | $523 | $920 | $1,556 |
Source: Ownwell