Edmond, Oklahoma Property Taxes
The median property tax rate in Edmond, OK is 0.85%, 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 Edmond, the typical annual property tax bill amounts to $1,251, significantly below the national median of $2,690. Property taxes in Edmond 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 Edmond'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 Edmond 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
Edmond, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$1,224
Ownwell’s Edmond Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Edmond with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Edmond 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 Edmond, Oklahoma
Property taxes in Edmond, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Edmond is 0.85%, lower than the U.S. national median of 0.99%. Local government entities within Edmond set these rates annually, and they can vary significantly across different neighborhoods. Each year, Edmond 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 Edmond's effective property tax rate to other areas in Oklahoma and the national median. For comparison, the zip code 73025 has the highest median property tax rate of 0.87%, while the zip code 73012 has the lowest median tax rate of 0.79%. Understanding how these areas compare with Edmond provides valuable insights into the varying tax landscape across McIntosh County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Edmond Tax Rate
0.85%
Average Mcintosh County Tax Rate
0.79%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Edmond, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73012 | 0.79% | 0.79% | 0.79% | 0.79% | 0.79% |
| 73013 | 0.85% | 0.85% | 0.85% | 0.85% | 0.85% |
| 73025 | 0.86% | 0.86% | 0.87% | 0.89% | 0.89% |
| 73034 | 0.84% | 0.85% | 0.87% | 0.89% | 0.90% |
Source: Ownwell
Property Tax Assessment Values Across Edmond, Oklahoma
In Edmond, 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 McIntosh 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. 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 Edmond helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the median tax bill varies significantly within Edmond. For instance, the highest median tax bill in the area is $1,522 in the 73025 zip code, while the lowest median tax bill is $430 in the 73013 zip code.
Average Edmond Assessed Value
$144,020
Average Mcintosh County Assessed Value
$81,769
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Edmond, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73012 | $70,904 | $70,904 | $70,904 | $70,904 | $70,904 |
| 73013 | $50,788 | $50,788 | $50,788 | $50,788 | $50,788 |
| 73025 | $167,608 | $170,104 | $174,264 | $178,424 | $180,920 |
| 73034 | $143,836 | $143,905 | $144,020 | $144,134 | $144,203 |
Source: Ownwell
Property Tax Bills Across Edmond, Oklahoma
In Edmond, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Homeowners in Edmond typically see their tax bills influenced by the local tax rate and the assessed value of their property. For instance, the median home price in Edmond is $144,020. Property tax bills in Edmond can vary significantly, with the 25th percentile at $718 and the 75th percentile at $1,444. The highest median tax bill recorded is $1,522 in the 73025 zip code, while the lowest is $430 in the 73013 zip code. These taxes are crucial for funding local services, including schools, public safety, and infrastructure. Homeowners need to be aware of how these factors can impact their annual tax burden. Understanding the local tax rates and property values can help residents anticipate their potential tax bills and plan accordingly. This ensures that homeowners are prepared for their financial obligations and can make informed decisions about their property investments.
Average Edmond Tax Bill
$1,251
Average Mcintosh County Tax Bill
$586
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Edmond, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73012 | $558 | $558 | $558 | $558 | $558 |
| 73013 | $430 | $430 | $430 | $430 | $430 |
| 73025 | $1,496 | $1,506 | $1,522 | $1,537 | $1,547 |
| 73034 | $1,208 | $1,224 | $1,251 | $1,278 | $1,294 |
Source: Ownwell