Cashion, Oklahoma Property Taxes
The median property tax rate in Cashion, OK is 0.96%, slightly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Cashion at $202,548, the typical annual property tax bill is $1,786, which is significantly below the national median of $2,690. Property taxes in Cashion are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Cashion'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 Cashion or another part of Kingfisher County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cashion, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$1,944
Ownwell’s Cashion Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cashion with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cashion 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 Cashion, Oklahoma
Property taxes in Cashion, Oklahoma, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cashion is 0.96%, which is lower than the U.S. national median of 0.99%. Local government entities within Cashion set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cashion 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 Cashion's effective property tax rate to other areas in Oklahoma and the national median. For comparison, the zip code 73016 has the highest median property tax rate of 0.96%, while the lowest median tax rate is also 0.96% in the same zip code. Understanding how these areas compare with Cashion provides valuable insights into the varying tax landscape across Kingfisher County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cashion Tax Rate
0.96%
Average Kingfisher County Tax Rate
0.84%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cashion, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73016 | 0.61% | 0.80% | 0.96% | 1.04% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Cashion, Oklahoma
In Cashion, 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 Kingfisher 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 Cashion, 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 Cashion helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Cashion is $202,548, with the highest median tax bill being $1,786 in the 73016 zip code.
Average Cashion Assessed Value
$202,548
Average Kingfisher County Assessed Value
$150,533
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cashion, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73016 | $67,536 | $110,094 | $202,548 | $310,155 | $385,484 |
Source: Ownwell
Property Tax Bills Across Cashion, Oklahoma
In Cashion, located in Kingfisher County, OK, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This 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 determine the annual property tax bill. Homeowners in Cashion experience property tax bills that can vary significantly. For instance, the 25th percentile tax bill is around $908, while those in the 75th percentile see bills closer to $3,010. The top 10% of property tax bills can reach up to $3,703. These taxes fund essential local services such as public schools, infrastructure, and emergency services, directly impacting the quality of life in the community. Compared to the national median property tax rate of 0.99%, Cashion's property tax rates suggest a relatively moderate tax burden for homeowners, making it an attractive location for those seeking a balance between affordable living and quality public services.
Average Cashion Tax Bill
$1,786
Average Kingfisher County Tax Bill
$1,129
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Cashion, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73016 | $423 | $908 | $1,786 | $3,010 | $3,703 |
Source: Ownwell