Kendrick, Oklahoma Property Taxes
The median property tax rate in Kendrick, OK is 0.93%, slightly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Kendrick at $17,889, the typical annual property tax bill reaches $198, well below the national median of $2,690. Property taxes in Kendrick are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Kendrick'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 Kendrick or another part of Lincoln County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kendrick, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$166
Ownwell’s Kendrick Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in Kendrick. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Kendrick to provide an accurate estimate of your property tax bill. This valuable resource helps you understand your potential tax liabilities, allowing for better financial planning. For those interested in more granular data, scroll down to explore trends at the neighborhood level. Your property’s assessed value, determined by Lincoln County, is crucial for these calculations and considers any applicable exemptions.
Property Tax Rates Across Kendrick, Oklahoma
Property taxes in Kendrick, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kendrick is 0.93%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Kendrick set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kendrick 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 Kendrick's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74079 zip code has the highest median property tax rate of 0.93%, while the same zip code also has the lowest median tax rate of 0.93%. Understanding how these areas compare with Kendrick provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kendrick Tax Rate
0.93%
Average Lincoln County Tax Rate
0.78%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kendrick, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74079 | 0.80% | 0.85% | 0.93% | 0.97% | 6.00% |
Source: Ownwell
Property Tax Assessment Values Across Kendrick, Oklahoma
In Kendrick, 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 Lincoln 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 Kendrick, 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 Kendrick is $17,889. Tax bills can vary significantly, with the 25th percentile at $165 and the 75th percentile reaching $430. The highest and lowest median tax bills are both $198 in zip code 74079. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Kendrick Assessed Value
$17,889
Average Lincoln County Assessed Value
$92,516
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kendrick, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74079 | $8,230 | $12,161 | $17,889 | $46,416 | $67,965 |
Source: Ownwell
Property Tax Bills Across Kendrick, Oklahoma
In Kendrick, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the property's market value. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the property's size, location, and condition. Homeowners may also qualify for exemptions that can reduce their tax bills. For example, the tax bill at the 25th percentile is $165, while at the 75th percentile, it rises to $430. The tax bill at the 90th percentile can be as high as $1064. Compared to the national median property tax rate of 0.99%, Kendrick's tax bills can be considered relatively moderate. However, the impact on homeowners varies significantly based on their property's assessed value and any applicable exemptions. Understanding these factors can help homeowners better anticipate their annual property tax obligations.
Average Kendrick Tax Bill
$198
Average Lincoln County Tax Bill
$648
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Kendrick, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74079 | $106 | $165 | $198 | $430 | $1,064 |
Source: Ownwell