Cement, Oklahoma Property Taxes
The median property tax rate in Cement, OK is 0.80%, which is 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 $104,053, the typical annual property tax bill is $792, significantly below the national median of $2,690. Property taxes in Cement are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Cement's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Cement or another part of Grady County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cement, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$832
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, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cement is 0.80%, which is lower than 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 zip code 73017 in Cement has both the highest and lowest median property tax rate of 0.80%. Understanding how these cities compare with Cement provides valuable insights into the varying tax landscape across Grady County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cement Tax Rate
0.80%
Average Grady County Tax Rate
1.03%
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 | 0.37% | 0.54% | 0.80% | 1.02% | 1.14% |
Source: Ownwell
Property Tax Assessment Values Across Cement, Oklahoma
In Cement, 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 Grady 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 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. 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 Cement helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 73017, at $792, while the lowest is also 73017, at $792.
Average Cement Assessed Value
$104,053
Average Grady County Assessed Value
$126,704
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 | $50,151 | $72,248 | $104,053 | $147,886 | $204,964 |
Source: Ownwell
Property Tax Bills Across Cement, Oklahoma
In Cement, located in Grady County, OK, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property. Once the assessed value is established, the local tax rate is applied to this value to determine the annual tax bill. For instance, with a median home price of $104,053, homeowners might expect varying tax bills depending on specific factors such as property improvements and neighborhood changes. Factors like location, property condition, and market trends play a significant role in determining the assessed value. In Cement, the 25th percentile tax bill is around $441, while the 75th percentile tax bill reaches up to $1,333, and the 90th percentile can be as high as $2,080. These property taxes fund essential services like schools, public safety, and infrastructure, directly impacting homeowners by influencing local service quality and community development.
Average Cement Tax Bill
$792
Average Grady County Tax Bill
$1,186
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 | $238 | $441 | $792 | $1,333 | $2,080 |
Source: Ownwell