Kingston, Oklahoma Property Taxes
The median property tax rate in Kingston, OK is 0.80%, 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 Kingston at $112,550, the typical annual property tax bill is approximately $764, significantly below the national median of $2,690. Property taxes in Kingston 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 Kingston'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 Kingston 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
Kingston, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$900
Ownwell’s Kingston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kingston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kingston 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 Kingston, Oklahoma
Property taxes in Kingston, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kingston is 0.80%, lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Kingston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kingston 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 Kingston's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73439 zip code has the highest median property tax rate of 0.80%, while the same zip code also has the lowest median tax rate of 0.80%. Understanding how these cities compare with Kingston provides valuable insights into the varying tax landscape across Marshall County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kingston Tax Rate
0.80%
Average Marshall County Tax Rate
0.73%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kingston, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73439 | 0.40% | 0.57% | 0.80% | 0.90% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Kingston, Oklahoma
In Kingston, 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 Marshall 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 Kingston, 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 Kingston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 73439, with a median tax bill of $764.
Average Kingston Assessed Value
$112,550
Average Marshall County Assessed Value
$105,283
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kingston, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73439 | $29,984 | $60,000 | $112,550 | $200,023 | $342,287 |
Source: Ownwell
Property Tax Bills Across Kingston, Oklahoma
In Kingston, located in Marshall County, OK, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the assessed value, including the home's location, size, and condition. For homeowners in Kingston, the median home price is $112,550, which serves as a reference point for calculating property taxes. The tax bills in Kingston can vary significantly. For instance, at the 25th percentile, homeowners might see a tax bill around $385, while those in the 75th percentile could face a bill as high as $1,521. At the 90th percentile, the tax bill can reach up to $2,655. These variations can have a substantial impact on homeowners, affecting their annual budget and financial planning. Compared to the national median property tax rate of 0.99%, Kingston's rates reflect the local economic conditions and property values, offering a unique perspective on property taxation in this region.
Average Kingston Tax Bill
$764
Average Marshall County Tax Bill
$670
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Kingston, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73439 | $191 | $385 | $764 | $1,521 | $2,655 |
Source: Ownwell