Adair, Oklahoma Property Taxes
The median property tax rate in Adair, OK is 0.92%, slightly below both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Adair at $121,142, the typical annual property tax bill is $1,104, which is lower than the national median of $2,690. Property taxes in Adair 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 Adair'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 Adair 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
Adair, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$1,115
Ownwell’s Adair Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Adair with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Adair 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 Adair, Oklahoma
Property taxes in Adair, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Adair is 0.92%, which is slightly lower than the U.S. national median of 0.99%. Local government entities within Adair set these rates annually, and they can vary significantly across different neighborhoods. Each year, Adair 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 Adair's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74330 has both the highest and lowest median property tax rate of 0.92%. Understanding how these cities compare with Adair provides valuable insights into the varying tax landscape across Craig County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Adair Tax Rate
0.92%
Average Craig County Tax Rate
0.82%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Adair, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74330 | 0.37% | 0.59% | 0.92% | 0.98% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Adair, Oklahoma
In Adair, 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 Craig 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 Adair, 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 Adair helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Adair is $121,142, with tax bills ranging from $418 at the 25th percentile to $2,814 at the 90th percentile. The zip code with the highest and lowest median tax bill is 74330, both at $1,104.
Average Adair Assessed Value
$121,142
Average Craig County Assessed Value
$75,683
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Adair, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74330 | $42,067 | $69,887 | $121,142 | $177,788 | $307,329 |
Source: Ownwell
Property Tax Bills Across Adair, Oklahoma
Property tax bills in Adair, located in Craig County, OK, are calculated based on the assessed value of the property and the local tax rate. The assessed value is a percentage of the property's market value, determined by the county assessor. For example, if a home has a median market value of $121,142, the assessed value would be a fraction of this amount, subject to the local assessment ratio. The tax rate, applied to the assessed value, determines the annual property tax bill. In Adair, the property tax rate is relatively low compared to the national median of 0.99%. This results in a range of tax bills, from the 25th percentile at $418 to the 90th percentile at $2,814. Homeowners in the zip code 74330 experience a median tax bill of $1,104, which is consistent across the highest and lowest ranges in the area. These taxes fund essential community services, such as schools and public safety, directly impacting the quality of life for Adair residents.
Average Adair Tax Bill
$1,104
Average Craig County Tax Bill
$568
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Adair, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74330 | $211 | $418 | $1,104 | $1,694 | $2,814 |
Source: Ownwell