Hendrix, Oklahoma Property Taxes
The median property tax rate in Hendrix, OK is 0.74%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $100,794, the typical annual property tax bill in Hendrix is $702, significantly below the national median of $2,690. Property taxes in Hendrix 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. Understanding Hendrix's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Hendrix or elsewhere in Bryan County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hendrix, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$746
Ownwell’s Hendrix Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hendrix with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hendrix 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 Hendrix, Oklahoma
Property taxes in Hendrix, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hendrix stands at 0.84%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Hendrix set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hendrix 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 Hendrix's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74741 has both the highest and lowest median property tax rate of 0.84%. Understanding how these cities compare with Hendrix provides valuable insights into the varying tax landscape across Bryan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hendrix Tax Rate
0.74%
Average Bryan County Tax Rate
0.83%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hendrix, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74741 | 0.46% | 0.61% | 0.74% | 0.92% | 1.01% |
Source: Ownwell
Property Tax Assessment Values Across Hendrix, Oklahoma
In Hendrix, 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 Bryan 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 Hendrix, 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 Hendrix helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Hendrix is $702, found in the 74741 zip code, which coincidentally also has the lowest median tax bill at $702.
Average Hendrix Assessed Value
$100,794
Average Bryan County Assessed Value
$117,512
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hendrix, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74741 | $34,166 | $60,150 | $100,794 | $165,572 | $231,844 |
Source: Ownwell
Property Tax Bills Across Hendrix, Oklahoma
In Hendrix, Bryan County, OK, property tax bills are determined based on the assessed value of your home, which is a percentage of its market value. The median home price in Hendrix is $100,794. Property taxes are calculated by applying the local tax rate to this assessed value. For homeowners in Hendrix, the median property tax bill is $702 annually, which is significantly lower than the national median property tax rate of 0.99%. Factors influencing your tax bill include the assessed value of your home and any applicable exemptions or deductions. Homeowners in the 25th percentile can expect to pay around $364, while those in the 75th percentile might see bills closer to $1,278. For the top 10% of property values, tax bills can reach up to $1,961. Understanding these factors can help homeowners budget effectively and explore potential savings through appeals or exemptions.
Average Hendrix Tax Bill
$702
Average Bryan County Tax Bill
$903
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Hendrix, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74741 | $189 | $364 | $702 | $1,278 | $1,961 |
Source: Ownwell