Kingfisher, Oklahoma Property Taxes
The median property tax rate in Kingfisher, OK is 0.89%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Kingfisher at $147,165, the typical annual property tax bill is $1,206, significantly below the national median of $2,690. Property taxes in Kingfisher are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Kingfisher'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 Kingfisher or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kingfisher, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$1,310
Ownwell’s Kingfisher Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kingfisher with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kingfisher 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 Kingfisher, Oklahoma
Property taxes in Kingfisher, Oklahoma, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Kingfisher is 0.89%, which is lower than the U.S. national median of 0.99%. Local government entities within Kingfisher set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kingfisher 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 Kingfisher's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 73750 has the highest median property tax rate of 0.89%, while the same zip code also has the lowest median tax rate of 0.89%. Understanding how these areas compare with Kingfisher 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 Kingfisher Tax Rate
0.89%
Average Kingfisher County Tax Rate
0.84%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kingfisher, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73750 | 0.53% | 0.74% | 0.89% | 0.94% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Kingfisher, Oklahoma
In Kingfisher, 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 local 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 Kingfisher, 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 Kingfisher helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 73750 has the highest and lowest median tax bill of $1206.
Average Kingfisher Assessed Value
$147,165
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 Kingfisher, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73750 | $60,389 | $92,050 | $147,165 | $227,934 | $339,215 |
Source: Ownwell
Property Tax Bills Across Kingfisher, Oklahoma
In Kingfisher, 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 Kingfisher is $147,165. Property taxes are determined by multiplying the assessed value by the local property tax rate. Factors such as the home's size, location, and condition can influence its assessed value. The tax bill can vary significantly, with the 25th percentile at $736, the 75th percentile at $1920, and the 90th percentile reaching $3007. For homeowners, this means that property taxes can represent a substantial portion of their annual expenses. The highest median tax bill in the area is $1206 in the 73750 zip code, which is lower than the national median property tax rate of 0.99%. Understanding these factors and how they impact the tax bill can help homeowners budget more effectively and potentially seek exemptions or appeals to lower their tax burden.
Average Kingfisher Tax Bill
$1,206
Average Kingfisher County Tax Bill
$1,129
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Kingfisher, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73750 | $412 | $736 | $1,206 | $1,920 | $3,007 |
Source: Ownwell