Ripley, Payne County, Oklahoma Property Taxes

Name: Property Tax Bills Across Ripley, Payne County, Oklahoma
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Ripley, Oklahoma effective property tax rate: 0.86%, significantly lower than the national median of 1.02%, but lower than the Oklahoma state median of 0.97%.
Median Ripley, Oklahoma home value: $88,580
Median annual Ripley, Oklahoma tax bill: $640, $1,760 lower than the national median property tax bill of $2,400.

How are property taxes in Payne County calculated?

Property taxes in Ripley, Oklahoma 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 Ripley’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Ripley, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Ripley, Payne County, Oklahoma Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.86%

Estimate Property Tax Bill

$762

$707

Ownwell’s Ripley Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Ripley with just two data points. By entering your property's estimated assessed value, our calculator applies Ripley’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Payne County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Ripley, Payne County, Oklahoma

Local government entities set tax rates, which can vary widely within a state. This variation is due to each county annually estimating its required budget to provide services and dividing that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While votes and laws play roles in setting tax rates and budgets, this is essentially the annual process. In Ripley, located in Payne County, Oklahoma, the effective property tax rate is 0.86%. This rate is consistent across the county, reflecting a stable approach to property taxation. Compared to the national median property tax rate of 1.02%, Ripley offers a more favorable environment for property owners. This lower rate can be a significant advantage for homeowners, potentially leading to substantial savings over time. Understanding these rates is crucial for property owners seeking to optimize their tax liabilities and make informed decisions about their real estate investments.

Property Tax Rates Across Ripley, Payne County, Oklahoma

Source: Ownwell

0.69%

0.83%

0.96%

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 Ripley Tax Rate

0.86%

Median Effective Payne County Tax Rate

0.91%

Median Effective Oklahoma Tax Rate

0.97%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Ripley, Payne County, Oklahoma

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
74062	0.42%	0.60%	0.86%	1.00%	1.11%

Source: Ownwell

Property Tax Assessment Values Across Ripley, Payne County, Oklahoma

When examining property taxes in Ripley, 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 Payne County Assessor 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. Assessment notices: In Payne 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 Ripley. For example, the median home price in Ripley is $88,580, with tax bills ranging significantly across the county. 74062 has the highest median home price at $88,580.

Property Tax Assessment Values Across Ripley, Payne County, Oklahoma

Source: Ownwell

$79,710

$153,385

$227,060

Median Ripley Market Value

$88,580

Median Payne County Market Value

$185,340

Median Oklahoma Market Value

$137,280

Median United States Market Value

$235,294

Property Tax Assessment Values Across Ripley, Payne County, Oklahoma

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
74062	$17,182	$42,195	$88,580	$180,440	$251,780

Source: Ownwell

Property Tax Bills Across Ripley, Payne County, Oklahoma

In Ripley, Payne County, OK, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. The local tax rate is then applied to this assessed value to determine the tax bill. Factors such as property improvements, local government budgets, and school funding needs can influence the assessed value and the tax rate, thereby affecting the final tax bill. Homeowners in Ripley face a median property tax bill of $640, which is significantly lower than the national median of $2,400. However, tax bills can range from $270 at the 25th percentile to $2,333 at the 90th percentile, indicating variability based on property value and other factors. Ownwell assists homeowners by providing expert guidance on property tax appeals and exemptions. By analyzing property values and ensuring accurate assessments, Ownwell can help homeowners potentially reduce their tax bills, offering a valuable service in maintaining manageable property expenses.

Property Tax Bills Across Ripley, Payne County, Oklahoma

Source: Ownwell

$614

$1,367

$2,119

Median Ripley Tax Bill

$640

Median Payne County Tax Bill

$1,635

Median Oklahoma Tax Bill

$1,269

Median United States Tax Bill

$2,400

Property Tax Bills Across Ripley, Payne County, Oklahoma

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
74062	$119	$270	$640	$1,570	$2,333

Source: Ownwell