Frequently Asked Questions (FAQs) What is a County Assessor?  A County Assessor is an elected official whose job is to assign a value to all property within their county. Property taxes are based on property value, and so it is the duty of the assessor to maintain the fairness and accuracy of the property records and values and therefore the taxes those values affect. There are a number of Oklahoma state statutes that apply to how an assessor must perform his or her job duties and a process that can be followed for taxpayers who disagree with the value placed upon their property. What kinds of property does an assessor value? Most taxpayers know that an Assessor values real estate and all improvements to real estate. In addition to that, all Oklahoma counties also assess Business Personal Property and Farm Personal Property. It is the duty of the taxpayer to report all property to the County Assessor by March 15 of every year. For businesses this is required on Oklahoma Tax Commission Form 901. How do I calculate my property taxes? The State of Oklahoma works on a system based on an assessment ratios. For Woodward County, the assessment ratio used is 11%. That means that property taxes are only applied to 11% of the property's market value. For example, if you pay $100,000 for a home, the assessed value is $11,000. The assessed value is the amount to which the property tax is applied. Property tax is expressed in levies, which vary by school district and can fluctuate annually depending on bond issues and other factors. Each year's levies are certified by the Board of County Commissioners in October. The Woodward I1-A School District 2019 levy was 89.28. One levy is applied for each $1,000 of assessed value. So the estimated 2019 property taxes for a $100,000 home are $982.08. Where does the money from property taxes go? Nearly 80% of revenue generated from county property taxes goes to public education. This included both K-12 school districts and Vocational-Technical Schools. The remaining 20% is used for county general administration, county emergency medical services, and the county health department. How do I qualify for a Homestead Exemption? If your name is on the deed to your home and you live there, you qualify for a Homestead Exemption on that property! The Homestead Exemption is a program that began during the Great Depression to lessen the burden on taxpayers who were in danger of losing their homes. A Homestead Exemption is worth 1,000 off of a property's assessed value when calculating taxes. A Homestead Exemption must only be applied for once as long as you l ive on that property and no deeds are filed to change ownership. Is there anything else that can help lessen my tax burden? If you are a low-income taxpayer or are over 65, you may apply for an additional homestead exemption or a senior valuation limitation for your home. Because these exemptions are income based, they must be re-applied for annually between January 1st and March 15th and you must report your income to receive them. (Application Form) Is this the right place for my farm sales tax exempt card? Yes! Because farming for a profit is inextricable from land, your local Assessor's office under the jurisdiction of the Ad Valorem division of the Oklahoma Tax Commission would be glad to help you apply for or renew a farm sales tax exemption card for your farming business.