Kenton, Oklahoma Property Taxes
The median property tax rate in Kenton, OK is 0.69%, considerably lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Kenton, the typical annual property tax bill reaches $248, which is significantly below the national median of $2,690. Property taxes in Kenton are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Kenton'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 Kenton 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
Kenton, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$256
Ownwell’s Kenton Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Kenton with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Kenton to provide an accurate estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities and plan your finances accordingly. For those interested in more granular insights, our trends page offers detailed information on neighborhood-level property tax trends. Your property’s assessed value, determined by the county, is crucial for these calculations and accounts for any applicable exemptions.
Property Tax Rates Across Kenton, Oklahoma
Property taxes in Kenton, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kenton is 0.69%, which is notably lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Kenton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kenton 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 Kenton's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73946 zip code has both the highest and lowest median property tax rate in the county at 0.69%. Understanding how these cities compare with Kenton provides valuable insights into the varying tax landscape across Cimarron County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kenton Tax Rate
0.69%
Average Cimarron County Tax Rate
0.50%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kenton, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73946 | 0.37% | 0.62% | 0.69% | 0.83% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Kenton, Oklahoma
In Kenton, 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 Cimarron 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 Kenton, 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 Kenton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 73946 has the highest median tax bill at $248.00, while the lowest median tax bill is also $248.00, indicating a uniformity in tax assessments within the region.
Average Kenton Assessed Value
$37,071
Average Cimarron County Assessed Value
$68,218
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kenton, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73946 | $26,112 | $28,078 | $37,071 | $41,946 | $64,742 |
Source: Ownwell
Property Tax Bills Across Kenton, Oklahoma
In Kenton, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the property tax rate set by Cimarron County. Several factors influence the assessed value, including the home's market value, location, and any improvements made to the property. Homeowners in Kenton experience varying tax bills, with the 25th percentile paying around $160 and the 75th percentile paying approximately $313. The highest median tax bill in the area is $248, found in the zip code 73946. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Compared to the national median property tax rate of 0.99%, Kenton's property tax rates can be seen as relatively moderate, providing a balanced approach to maintaining community services without placing an excessive burden on homeowners.
Average Kenton Tax Bill
$248
Average Cimarron County Tax Bill
$314
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Kenton, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73946 | $100 | $160 | $248 | $313 | $452 |
Source: Ownwell