Kenefic, Oklahoma Property Taxes
The median property tax rate in Kenefic, OK is 0.85%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Kenefic at $72,788, the typical annual property tax bill is $486, significantly less than the national median of $2,690. Property taxes in Kenefic are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Kenefic's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Kenefic or another part of Bryan County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kenefic, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$619
Ownwell’s Kenefic Property Tax Bill Calculator is a valuable tool for any homeowner, real estate investor, or potential buyer looking to estimate their annual property taxes in Kenefic. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Kenefic to provide an accurate estimate of your property tax bill. This tool offers insightful information to help you understand your potential tax liabilities. For those interested in more granular data, you can explore neighborhood-level trends by scrolling down for localized information. Your property’s assessed value, determined by Bryan County, serves as the basis for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Kenefic, Oklahoma
Property taxes in Kenefic, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kenefic is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Kenefic set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kenefic estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Kenefic's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74748 zip code has both the highest and lowest median property tax rate of 0.85%. Understanding how these cities compare with Kenefic provides valuable insights into the varying tax landscape across Bryan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kenefic Tax Rate
0.85%
Average Bryan County Tax Rate
0.83%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kenefic, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74748 | 0.43% | 0.67% | 0.85% | 0.94% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Kenefic, Oklahoma
In Kenefic, Oklahoma, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Bryan County Assessor’s Office for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Kenefic, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. In Kenefic, the highest median tax bill is $486 in the 74748 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Kenefic Assessed Value
$72,788
Average Bryan County Assessed Value
$117,512
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kenefic, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74748 | $15,106 | $27,951 | $72,788 | $122,461 | $282,119 |
Source: Ownwell
Property Tax Bills Across Kenefic, Oklahoma
In Kenefic, Bryan County, OK, property tax bills are calculated based on the assessed value of a property, which is typically a fraction of its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence this calculation, including the property's location, size, and any applicable exemptions or deductions. For homeowners in Kenefic, the median home price stands at $72,788. The 25th percentile tax bill is $216, while the 75th percentile tax bill reaches $894. For those in the 90th percentile, the tax bill can be as high as $2,538. The highest and lowest median tax bills in the area both amount to $486, indicating a relatively consistent tax rate across different properties. Compared to the national median property tax rate of 0.99%, Kenefic offers a favorable tax environment for homeowners, potentially making it an attractive location for those looking to manage their property tax expenses effectively.
Average Kenefic Tax Bill
$486
Average Bryan County Tax Bill
$903
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Kenefic, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74748 | $60 | $216 | $486 | $894 | $2,538 |
Source: Ownwell