Crescent, Oklahoma Property Taxes
The median property tax rate in Crescent, OK is 1.01%, slightly higher than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $194,076 in Crescent, the typical annual property tax bill reaches $1,938, which is below the national median of $2,690. Property taxes in Crescent are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Crescent'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 Crescent or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Crescent, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.01%
Estimate Property Tax Bill
$1,960
Ownwell’s Crescent Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Crescent with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Crescent 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 Crescent, Oklahoma
Property taxes in Crescent, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Crescent is 0.89%, which is lower than both the Oklahoma state median of 0.87% and the U.S. national median of 0.99%. Local government entities within Crescent set these rates annually, and they can vary significantly across different neighborhoods. Each year, Crescent 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 Crescent's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73028 zip code has the highest median property tax rate of 0.89%, while the same zip code also has the lowest median tax rate of 0.89%. Understanding how these cities compare with Crescent provides valuable insights into the varying tax landscape across Kingfisher County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Crescent Tax Rate
1.01%
Average Kingfisher County Tax Rate
0.84%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Crescent, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73028 | 0.68% | 0.83% | 1.01% | 1.18% | 1.24% |
Source: Ownwell
Property Tax Assessment Values Across Crescent, Oklahoma
In Crescent, 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 Kingfisher 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 Crescent, 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 Crescent helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,938, found in the 73028 zip code.
Average Crescent Assessed Value
$194,076
Average Kingfisher County Assessed Value
$150,533
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Crescent, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73028 | $110,882 | $140,718 | $194,076 | $293,950 | $424,540 |
Source: Ownwell
Property Tax Bills Across Crescent, Oklahoma
In Crescent, located in Kingfisher County, OK, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is a percentage of the property's market value, which is determined by the county assessor. Factors such as the property's location, size, and any improvements or renovations can influence this assessed value. Once the assessed value is established, local tax rates are applied to determine the final tax bill. Homeowners in Crescent can expect property tax bills to vary significantly. For example, the 25th percentile tax bill is around $1,250, while the 75th percentile tax bill reaches $3,055, and the 90th percentile tax bill can be as high as $4,552. With the national median property tax rate at 0.99%, Crescent's property tax rates and bills are competitive. Understanding how these factors interplay helps homeowners anticipate their tax obligations and better manage their finances.
Average Crescent Tax Bill
$1,938
Average Kingfisher County Tax Bill
$1,129
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Crescent, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73028 | $868 | $1,250 | $1,938 | $3,055 | $4,552 |
Source: Ownwell