Edmond, Oklahoma Property Taxes
The median property tax rate in Edmond, OK is 0.99%, aligning with the national median of 0.99% but slightly higher than the Oklahoma state median of 0.97%. With a median home value of $311,500 in Edmond, the typical annual property tax bill reaches $3,183, surpassing the national median of $2,690. Property taxes in Edmond are calculated based on the tax assessed value, which usually 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
0.99%
Estimate Property Tax Bill
$3,084
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, including public schools, road maintenance, and emergency services. The median tax rate in Edmond is 0.99%, aligning with the U.S. national median. 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 areas in Oklahoma County and the national median. For comparison, the 73012 zip code has the highest median property tax rate at 1.09%, while the 73039 zip code has the lowest median tax rate at 0.85%. Understanding how these localities compare with Edmond provides valuable insights into the varying tax landscape across Oklahoma County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Edmond Tax Rate
0.99%
Average Oklahoma County Tax Rate
1.00%
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 | 0.79% | 0.85% | 0.94% | 0.97% | 1.11% |
| 73007 | 0.65% | 0.73% | 0.87% | 0.94% | 0.97% |
| 73012 | 0.91% | 0.99% | 1.09% | 1.18% | 1.31% |
| 73013 | 0.84% | 0.94% | 1.05% | 1.15% | 1.27% |
| 73025 | 0.86% | 0.91% | 0.97% | 1.08% | 1.15% |
| 73034 | 0.79% | 0.86% | 0.92% | 0.99% | 1.14% |
| 73039 | 0.85% | 0.85% | 0.85% | 0.85% | 0.85% |
| 73049 | 1.01% | 1.03% | 1.07% | 1.11% | 1.13% |
| 73083 | 0.98% | 0.98% | 0.98% | 0.98% | 0.98% |
| 73094 | 0.91% | 0.91% | 0.91% | 0.91% | 0.91% |
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 Oklahoma County Assessor's Office 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. Assessment notices in Edmond 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. For example, the highest median tax bill in the area is $6,647 in the 73039 zip code, while the lowest is $775 in the 73083 zip code.
Average Edmond Assessed Value
$311,500
Average Oklahoma County Assessed Value
$192,500
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 | $146,000 | $183,000 | $227,000 | $287,500 | $393,500 |
| 73007 | $367,115 | $383,786 | $411,573 | $2,355,286 | $3,521,515 |
| 73012 | $216,000 | $248,500 | $309,500 | $408,000 | $559,500 |
| 73013 | $187,500 | $227,000 | $290,500 | $389,000 | $576,000 |
| 73025 | $340,250 | $409,500 | $517,750 | $670,500 | $908,500 |
| 73034 | $179,500 | $297,500 | $395,000 | $539,500 | $730,000 |
| 73039 | $784,500 | $784,500 | $784,500 | $784,500 | $784,500 |
| 73049 | $163,278 | $277,732 | $468,488 | $659,244 | $773,698 |
| 73083 | $79,158 | $79,158 | $79,158 | $79,158 | $79,158 |
| 73094 | $516,000 | $516,000 | $516,000 | $516,000 | $516,000 |
Source: Ownwell
Property Tax Bills Across Edmond, Oklahoma
Property tax bills in Edmond, Oklahoma, are calculated based on the assessed value of a property, which is typically a percentage of its market value. The median home price in Edmond is $311,500, and homeowners can expect their tax bills to vary widely depending on their property's assessed value and the specific tax rate applied. Several factors influence the final tax bill, including the local tax rate, property characteristics, and any applicable exemptions. In Edmond, the tax bill for the 25th percentile is around $2,281, while for the 75th percentile, it reaches approximately $4,529. The 90th percentile sees tax bills as high as $6,434. Comparatively, the highest median tax bill in the area is $6,647 in the 73039 zip code, and the lowest is $775 in the 73083 zip code. These property taxes significantly impact homeowners, as they are a recurring expense that must be budgeted for annually. Understanding how these taxes are calculated can help homeowners better manage their finances and potentially seek exemptions or appeals to lower their tax burden.
Average Edmond Tax Bill
$3,183
Average Oklahoma County Tax Bill
$1,891
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 | $1,261 | $1,638 | $2,062 | $2,724 | $3,633 |
| 73007 | $2,664 | $3,000 | $3,558 | $20,503 | $30,670 |
| 73012 | $2,134 | $2,627 | $3,359 | $4,540 | $6,163 |
| 73013 | $1,744 | $2,239 | $3,061 | $4,274 | $6,259 |
| 73025 | $3,136 | $4,006 | $5,045 | $6,726 | $9,246 |
| 73034 | $1,554 | $2,582 | $3,630 | $5,132 | $7,054 |
| 73039 | $6,647 | $6,647 | $6,647 | $6,647 | $6,647 |
| 73049 | $1,739 | $2,851 | $4,706 | $6,560 | $7,672 |
| 73083 | $775 | $775 | $775 | $775 | $775 |
| 73094 | $4,670 | $4,670 | $4,670 | $4,670 | $4,670 |
Source: Ownwell