Cashion, Oklahoma Property Taxes
The median property tax rate in Cashion, OK is 0.88%, slightly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $243,763 in Cashion, the typical annual property tax bill is $2,110, which is below the national median of $2,690. Property taxes in Cashion are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Navigating Cashion's property tax system, exploring available exemptions, and finding opportunities for reductions can lead to substantial annual savings. Whether you reside in the heart of Cashion or another part of the city, understanding the local property tax system is beneficial for 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
0.88%
Estimate Property Tax Bill
$2,145
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 0.88%, 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 counties in Oklahoma and the national median. For comparison, the zip code 73016 in Logan County has the same median property tax rate of 0.88%. Understanding how these cities compare with Cashion provides valuable insights into the varying tax landscape across Logan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cashion Tax Rate
0.88%
Average Logan County Tax Rate
0.98%
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 | 0.65% | 0.81% | 0.88% | 0.95% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Cashion, Oklahoma
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Cashion, Oklahoma. 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 Logan 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 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. For instance, the median home price in Cashion is $243,763, with tax bills varying significantly. The 25th percentile tax bill is around $976, while the 75th percentile reaches $3,257. Interestingly, the highest and lowest median tax bills are both $2,110 for the zip code 73016. 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 processes in Cashion helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cashion Assessed Value
$243,763
Average Logan County Assessed Value
$165,842
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 | $67,592 | $119,636 | $243,763 | $350,948 | $431,440 |
Source: Ownwell
Property Tax Bills Across Cashion, Oklahoma
In Cashion, located in Logan County, OK, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. This assessed value is typically a percentage of the property's market value. For homeowners in Cashion, the median home price is $243,763. The property tax rate in Logan County is applied to this assessed value to determine the annual tax bill. Factors such as property improvements, location, and market conditions can influence the assessed value. For instance, tax bills in Cashion can range significantly, with the 25th percentile tax bill at $976 and the 75th percentile tax bill at $3,257. The 90th percentile tax bill reaches up to $3,957. Homeowners in the area with the highest median tax bill, located in zip code 73016, pay around $2,110 annually. Compared to the national median property tax rate of 0.99%, the property tax bills in Cashion can have a substantial financial impact on homeowners, influencing their overall cost of living.
Average Cashion Tax Bill
$2,110
Average Logan County Tax Bill
$1,451
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 | $496 | $976 | $2,110 | $3,257 | $3,957 |
Source: Ownwell