Kellyville, Oklahoma Property Taxes
The median property tax rate in Kellyville, OK is 0.79%, which is notably lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Kellyville at $115,517, the typical annual property tax bill amounts to $790, significantly below the national median of $2,690. Property taxes in Kellyville are calculated based on the tax assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Kellyville'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 Kellyville or another part of Creek County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kellyville, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$913
Ownwell’s Kellyville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kellyville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kellyville 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 Kellyville, Oklahoma
Property taxes in Kellyville, OK, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kellyville is 0.79%, which is lower than the U.S. national median of 0.99%. Local government entities within Kellyville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kellyville 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 Kellyville's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74039 zip code has both the highest and lowest median property tax rate of 0.79%. Understanding how these cities compare with Kellyville provides valuable insights into the varying tax landscape across Creek County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kellyville Tax Rate
0.79%
Average Creek County Tax Rate
0.88%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kellyville, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74039 | 0.34% | 0.55% | 0.79% | 0.99% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Kellyville, Oklahoma
In Kellyville, 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 Creek 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 Kellyville, 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. The median home price in Kellyville is $115,517, with tax bills ranging from $402 at the 25th percentile to $2,554 at the 90th percentile. The highest and lowest median tax bills are both $790 in the 74039 zip code. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Kellyville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Kellyville Assessed Value
$115,517
Average Creek County Assessed Value
$130,263
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kellyville, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74039 | $32,101 | $68,974 | $115,517 | $182,681 | $273,979 |
Source: Ownwell
Property Tax Bills Across Kellyville, Oklahoma
In Kellyville, located in Creek County, OK, property tax bills are calculated based on the assessed value of the home. The assessed value is a percentage of the market value, and it serves as the basis for determining the property tax owed. Factors such as property improvements, market conditions, and local tax rates influence this assessed value. For homeowners in Kellyville, the median home price is $115,517. The property tax bill can vary significantly, with the 25th percentile tax bill at $402 and the 75th percentile at $1,476. At the higher end, the 90th percentile tax bill reaches $2,554. These figures indicate a range of tax burdens depending on the property's assessed value and location within the city. Comparatively, the highest median tax bill in the area is $790, found in the 74039 zip code. Understanding these factors helps homeowners anticipate their annual property tax expenses and manage their budgets accordingly.
Average Kellyville Tax Bill
$790
Average Creek County Tax Bill
$1,080
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Kellyville, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74039 | $178 | $402 | $790 | $1,476 | $2,554 |
Source: Ownwell