Cement, Oklahoma Property Taxes
The median property tax rate in Cement, OK is 0.65%, which is notably lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value in Cement of $42,832, the typical annual property tax bill amounts to $292, significantly below the national median of $2,690. Property taxes in Cement are determined based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. By understanding Cement's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial savings. Whether you're in the heart of Cement or another part of Caddo County, gaining a thorough understanding of the local property tax system is beneficial for managing expenses and maximizing investment returns.
Last Updated June 14, 2024
Cement, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$278
Ownwell's CEMENT Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in CEMENT with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in CEMENT to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Cement, Oklahoma
Property taxes in Cement, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cement is 0.65%, lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Cement set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cement 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 Cement's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73017 zip code has both the highest and lowest median property tax rate of 0.65%. Understanding how these cities compare with Cement provides valuable insights into the varying tax landscape across Caddo County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cement Tax Rate
0.65%
Average Caddo County Tax Rate
0.63%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cement, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73017 | 0.21% | 0.41% | 0.65% | 0.89% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Cement, Oklahoma
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Cement, Oklahoma. 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 Caddo County Assessor 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 Cement, 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. For example, the median home price in Cement is $42,832, with tax bills ranging from $134 at the 25th percentile to $1,044 at the 90th percentile. The highest median tax bill is $292 in the 73017 zip code, which also has the lowest median tax bill of $292. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Average Cement Assessed Value
$42,832
Average Caddo County Assessed Value
$58,902
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cement, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73017 | $19,635 | $28,175 | $42,832 | $81,128 | $130,149 |
Source: Ownwell
Property Tax Bills Across Cement, Oklahoma
In Cement, located in Caddo County, OK, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Cement is $42,832. The local tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property improvements, neighborhood changes, and market conditions can influence the assessed value, impacting the tax bill. Homeowners in Cement typically see a range of property tax bills. For instance, the tax bill at the 25th percentile is $134, while at the 75th percentile, it is $552. The 90th percentile tax bill can go up to $1,044. Comparatively, Cement's property tax rate is lower than the national median rate of 0.99%, making it relatively affordable for homeowners. This affordability can be a significant factor for those considering homeownership in Cement, impacting their overall cost of living and long-term financial planning.
Average Cement Tax Bill
$292
Average Caddo County Tax Bill
$341
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Cement, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73017 | $48 | $134 | $292 | $552 | $1,044 |
Source: Ownwell