Edmond, Oklahoma Property Taxes
The median property tax rate in Edmond, OK is 1.05%, slightly higher than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Edmond at $284,979, the typical annual property tax bill reaches $2,826, just above the national median of $2,690. Property taxes in Edmond are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Edmond'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 Edmond 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
Edmond, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$2,992
Ownwell’s Edmond Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Edmond with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Edmond 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 Edmond, Oklahoma
Property taxes in Edmond, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Edmond is 1.05%, higher than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Edmond set these rates annually, and they can vary significantly across different neighborhoods. Each year, Edmond 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 Edmond's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73025 zip code has the highest median property tax rate of 1.07%, while the 73012 zip code has the lowest median tax rate of 0.92%. Understanding how these cities compare with Edmond provides valuable insights into the varying tax landscape across Logan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Edmond Tax Rate
1.05%
Average Logan County Tax Rate
0.98%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Edmond, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73003 | 0.63% | 0.82% | 1.01% | 1.08% | 1.14% |
| 73012 | 0.79% | 0.84% | 0.92% | 0.93% | 0.94% |
| 73025 | 0.83% | 0.97% | 1.07% | 1.14% | 1.25% |
| 73034 | 0.69% | 0.95% | 1.04% | 1.09% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Edmond, Oklahoma
In Edmond, 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 Logan 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 Edmond, 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 Edmond helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Residents in the 73025 zip code see the highest median tax bill at $3,397, while those in the 73003 zip code enjoy the lowest median tax bill at $207.
Average Edmond Assessed Value
$284,979
Average Logan County Assessed Value
$165,842
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Edmond, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73003 | $9,163 | $15,228 | $19,151 | $35,386 | $63,443 |
| 73012 | $18,641 | $23,397 | $31,323 | $42,412 | $49,065 |
| 73025 | $96,562 | $243,546 | $336,008 | $421,039 | $512,092 |
| 73034 | $59,729 | $111,136 | $228,095 | $355,712 | $466,768 |
Source: Ownwell
Property Tax Bills Across Edmond, Oklahoma
In Edmond, Logan County, OK, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This value typically represents a percentage of the property's market value. For homeowners in Edmond, the median home price is $284,979. The property tax rate in Logan County is applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including the property's location, size, and any applicable exemptions. In Edmond, property tax bills can vary significantly. For instance, the 25th percentile tax bill is $1,235, while the 75th percentile reaches $4,095, and the 90th percentile goes up to $5,267. The highest median tax bill in Edmond is found in the 73025 zip code at $3,397, whereas the lowest median tax bill is in the 73003 zip code at $207. These variations affect homeowners differently, impacting their annual budget and financial planning. Comparing to the national median property tax rate of 0.99%, Edmond's property taxes can be relatively moderate or high, depending on the specific property and location.
Average Edmond Tax Bill
$2,826
Average Logan County Tax Bill
$1,451
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Edmond, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73003 | $67 | $130 | $207 | $326 | $453 |
| 73012 | $152 | $202 | $287 | $395 | $460 |
| 73025 | $335 | $2,220 | $3,397 | $4,462 | $5,649 |
| 73034 | $330 | $896 | $2,161 | $3,632 | $4,879 |
Source: Ownwell