Wilburton, Latimer County, Oklahoma Property Taxes
Median Wilburton, OK effective property tax rate: 0.92%, significantly lower than the national median of 1.02%, but lower than the Oklahoma state median of 0.97%.
Median Wilburton, OK home value: $53,033
Median annual Wilburton, OK tax bill: $444, $1,956 lower than the national median property tax bill of $2,400.
How are property taxes in Latimer County calculated?
Property taxes in Wilburton, 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 Wilburton’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Wilburton, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Wilburton, Latimer County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.92%
Estimate Property Tax Bill
$488
$453
Property Tax Rates Across Wilburton, Latimer County, Oklahoma
Local government entities set property tax rates, which can vary widely within a state. Each year, counties estimate the budget required to provide essential services and divide it by the total value of all taxable properties within their jurisdiction. This division results in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is essentially how it works annually.
In Wilburton, located in Latimer County, the effective property tax rate is 0.92%, which is lower than the national median property tax rate of 1.02%. This means residents in Wilburton benefit from a more favorable tax environment compared to many other areas across the country. Understanding these rates is crucial for property owners as they navigate the complexities of property taxes. Comparing Wilburton’s rate to the national average highlights the potential savings for property owners in this region. Lower property tax rates can be a significant advantage for homeowners, potentially reducing annual expenses and making homeownership more affordable.
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 Wilburton Tax Rate
0.92%
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 Latimer County Tax Rate
0.84%
Median Effective Oklahoma Tax Rate
0.97%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Wilburton, Latimer County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74578 | 0.52% | 0.73% | 0.92% | 1.12% | 1.12% |
Source: Ownwell
Property Tax Assessment Values Across Wilburton, Latimer County, Oklahoma
When examining property taxes in Wilburton, Oklahoma, 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 Latimer County Assessor's Office 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 Latimer County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Wilburton. For example, the median home price in Wilburton is $53,033, with tax bills ranging significantly across the county. Zip code 74578 has the highest median home price at $53,033.
Property Tax Assessment Values Across Wilburton, Latimer County, Oklahoma
Source: Ownwell
$53,033
$65,586
$78,138
Median Wilburton Market Value
$53,033
Median Latimer County Market Value
$59,905
Median Oklahoma Market Value
$137,280
Median United States Market Value
$235,294
Property Tax Assessment Values Across Wilburton, Latimer County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74578 | $20,301 | $32,346 | $53,033 | $88,335 | $146,417 |
Source: Ownwell
Property Tax Bills Across Wilburton, Latimer County, Oklahoma
Median Wilburton Tax Bill
$444
Median Latimer County Tax Bill
$444
Median Oklahoma Tax Bill
$1,269
Median United States Tax Bill
$2,400
Property Tax Bills Across Wilburton, Latimer County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74578 | $144 | $264 | $444 | $792 | $1,417 |
Source: Ownwell
