Addington, Oklahoma Property Taxes
The median property tax rate in Addington, OK is 0.98%, slightly below the national median of 0.99% but marginally higher than the Oklahoma state median of 0.97%. With the median home value in Addington at $30,458, the typical annual property tax bill amounts to $229, which is significantly lower than the national median of $2,690. Property taxes in Addington 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. Understanding Addington’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 Addington or elsewhere in Jefferson County, a thorough grasp of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Addington, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$298
Ownwell’s Addington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Addington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Addington 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 Addington, Oklahoma
Property taxes in Addington, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Addington is 0.98%, slightly below the U.S. national median of 0.99%. Local government entities within Addington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Addington 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 Addington's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73520 zip code has both the highest and lowest median property tax rate of 0.98%. Understanding how these cities compare with Addington provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Addington Tax Rate
0.98%
Average Jefferson County Tax Rate
0.93%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Addington, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73520 | 0.80% | 0.86% | 0.98% | 1.02% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Addington, Oklahoma
In Addington, 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 Jefferson County Appraisal District 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 Addington, 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 Addington is $30,458, with tax bills ranging from $180 at the 25th percentile to $1,870 at the 90th percentile. The highest and lowest median tax bills are both $229 in the 73520 zip code. By understanding 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 Addington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Addington Assessed Value
$30,458
Average Jefferson County Assessed Value
$43,058
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Addington, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73520 | $15,977 | $21,408 | $30,458 | $131,798 | $192,601 |
Source: Ownwell
Property Tax Bills Across Addington, Oklahoma
In Addington, Jefferson County, OK, property tax bills are calculated based on the assessed value of the property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the tax bill. Factors such as property size, location, and condition influence the assessed value. The median home price in Addington is $30,458, and property tax bills can vary significantly. For example, the 25th percentile tax bill is $180, while the 75th percentile reaches $1,254, and the 90th percentile can be as high as $1,870. Homeowners in Addington should be aware that their property tax bills can fluctuate based on changes in the assessed value and local tax rates. Compared to the national median property tax rate of 0.99%, Addington's rates can be relatively moderate or steep, depending on the specific property. Understanding these factors can help homeowners better anticipate their annual tax obligations and plan their finances accordingly.
Average Addington Tax Bill
$229
Average Jefferson County Tax Bill
$362
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Addington, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73520 | $150 | $180 | $229 | $1,254 | $1,870 |
Source: Ownwell