Elk City, Washita County, Oklahoma Property Taxes

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

Median Elk City, OK effective property tax rate: 0.74%, significantly lower than the national median of 1.02%, but lower than the Oklahoma state median of 0.97%.
Median Elk City, OK home value: $186,838
Median annual Elk City, OK tax bill: $1,335, $1,065 lower than the national median property tax bill of $2,400.

How are property taxes in Washita County calculated?

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

Last Updated March 1, 2025

Elk City, Washita County, Oklahoma Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.7%

Estimate Property Tax Bill

$1,535

$1,425

Ownwell’s Elk City Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Elk City with just two data points. By entering your property's estimated assessed value, our calculator applies Elk City’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 Washita County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Elk City, Washita County, Oklahoma

Local government entities set tax rates, which can vary widely within a state. Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Elk City's effective property tax rate to other cities in Oklahoma and the median property tax rates in Oklahoma and the U.S. Elk City, located in Washita County, has a median property tax rate of 0.74%, which is below the national median of 1.02%. This means that property owners in Elk City generally pay less in property taxes compared to the average American homeowner. Interestingly, the highest and lowest median tax rates in the area are both 0.76%, indicating a relatively narrow range of property tax rates within the region. This stability can be beneficial for property owners looking for predictable tax expenses.

Property Tax Rates Across Elk City, Washita County, Oklahoma

Source: Ownwell

0.44%

0.64%

0.84%

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 Elk City Tax Rate

0.70%

Median Effective Washita County Tax Rate

0.62%

Median Effective Oklahoma Tax Rate

0.90%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Elk City, Washita County, Oklahoma

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
73644	0.53%	0.65%	0.76%	0.86%	0.93%

Source: Ownwell

Property Tax Assessment Values Across Elk City, Washita County, Oklahoma

When examining property taxes in Elk City, 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 Washita 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.

In Washita 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 Elk City. For example, the median home price in Elk City is $186,838, with tax bills ranging significantly across the county. Zip code 73644 has the highest median home price at $203,926.

Property Tax Assessment Values Across Elk City, Washita County, Oklahoma

Source: Ownwell

$52,999

$128,813

$204,626

Median Elk City Market Value

$219,343

Median Washita County Market Value

$71,298

Median Oklahoma Market Value

$160,842

Median United States Market Value

$235,294

Property Tax Assessment Values Across Elk City, Washita County, Oklahoma

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
73644	$96,012	$114,257	$180,306	$310,216	$542,203

Source: Ownwell

Property Tax Bills Across Elk City, Washita County, Oklahoma

In Elk City, located in Washita County, Oklahoma, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The median home price in Elk City is $186,838, and property taxes are applied to this assessed value to determine the annual tax bill. Tax rates are influenced by various factors, including local government budgets and community needs. For homeowners, this means that property taxes can vary significantly, with bills ranging from $743 at the 25th percentile to $3,380 at the 90th percentile. Despite the national median property tax bill being $2,400, Elk City's median tax bill is notably lower at $895, reflecting a more affordable tax environment. However, discrepancies in assessments can lead to higher bills than necessary. This is where Ownwell can assist by offering property tax appeal services, helping homeowners identify potential savings and ensuring they are not overpaying. By leveraging expertise in property tax exemptions and appeals, Ownwell aids in reducing tax burdens for homeowners in Elk City.

Property Tax Bills Across Elk City, Washita County, Oklahoma

Source: Ownwell

$264

$824

$1,383

Median Elk City Tax Bill

$1,312

Median Washita County Tax Bill

$440

Median Oklahoma Tax Bill

$1,339

Median United States Tax Bill

$2,400

Property Tax Bills Across Elk City, Washita County, Oklahoma

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
73644	$711	$770	$1,113	$2,358	$3,934

Source: Ownwell

Don't miss the deadline to appeal!

Dates
Appeal Deadline	March 6

Links
Washita Tax Assessor
Website	oktaxrolls.com