Greenfield, Oklahoma Property Taxes
The median property tax rate in Greenfield, OK is 0.35%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Greenfield, the typical annual property tax bill is $189, far below the national median of $2,690. Property taxes in Greenfield are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Greenfield'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 Greenfield 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
Greenfield, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.35%
Estimate Property Tax Bill
$190
Ownwell’s Greenfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Greenfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Greenfield 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 Greenfield, Oklahoma
Property taxes in Greenfield, Oklahoma, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Greenfield is 0.85%, which is significantly higher than the Oklahoma state median of 0.74% but still below the U.S. national median of 0.99%. Local government entities within Greenfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Greenfield 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 Greenfield's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the highest median property tax rate in the state is in ZIP code 73132, with a rate of 1.29%, while the lowest is in ZIP code 74954, at 0.45%. Understanding how these cities compare with Greenfield provides valuable insights into the varying tax landscape across Blaine County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Greenfield Tax Rate
0.35%
Average Blaine County Tax Rate
0.70%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Greenfield, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73043 | 0.16% | 0.26% | 0.35% | 0.52% | 0.69% |
Source: Ownwell
Property Tax Assessment Values Across Greenfield, Oklahoma
In Greenfield, 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 Blaine 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 Greenfield, 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. The median home price in Greenfield is $54,367. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. For instance, the highest median tax bill in Greenfield is $189 in zip code 73043, while the lowest median tax bill is also $189 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Greenfield Assessed Value
$54,367
Average Blaine County Assessed Value
$69,107
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Greenfield, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73043 | $19,083 | $27,452 | $54,367 | $85,784 | $110,199 |
Source: Ownwell
Property Tax Bills Across Greenfield, Oklahoma
In Greenfield, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Factors such as location, property size, and improvements can influence this assessed value. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. For homeowners in Greenfield, the median home price is $54,367. At the 25th percentile, the tax bill is $103, while at the 75th percentile, it rises to $336. The 90th percentile sees a tax bill of $476. These figures highlight how property taxes can vary significantly based on property value and other factors. Compared to the national median property tax rate of 0.99%, Greenfield's rates are relatively modest, offering a more affordable option for homeowners. Understanding these factors can help homeowners anticipate their tax obligations and plan accordingly.
Average Greenfield Tax Bill
$189
Average Blaine County Tax Bill
$441
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Greenfield, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73043 | $67 | $103 | $189 | $336 | $476 |
Source: Ownwell