Kiowa, Oklahoma Property Taxes
The median property tax rate in Kiowa, OK is 0.60%, which is significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Kiowa at $116,030, the typical annual property tax bill amounts to $630, far below the national median of $2,690. Property taxes in Kiowa are calculated based on the tax assessed value, often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Kiowa's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Kiowa 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
Kiowa, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$696
Ownwell’s Kiowa Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kiowa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kiowa 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 Kiowa, Oklahoma
Property taxes in Kiowa, Oklahoma, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kiowa is 0.60%, significantly lower than the U.S. national median of 0.99%. Local government entities within Kiowa set these rates annually, and they can vary across different neighborhoods. Each year, Kiowa 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 Kiowa's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 74553 has both the highest and lowest median property tax rate of 0.60%. Understanding how these areas compare with Kiowa provides valuable insights into the varying tax landscape across Atoka County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kiowa Tax Rate
0.60%
Average Atoka County Tax Rate
0.71%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kiowa, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74553 | 0.31% | 0.45% | 0.60% | 0.72% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Kiowa, Oklahoma
In Kiowa, 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 Atoka 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 Kiowa, 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 Kiowa helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Kiowa is $116,030, with the 25th percentile tax bill at $266 and the 75th percentile tax bill at $1,440. The highest median tax bill in the area is $630 in zip code 74553.
Average Kiowa Assessed Value
$116,030
Average Atoka County Assessed Value
$86,760
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kiowa, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74553 | $44,636 | $60,623 | $116,030 | $203,685 | $247,410 |
Source: Ownwell
Property Tax Bills Across Kiowa, Oklahoma
In Kiowa, located in Atoka County, OK, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the tax bill. Factors influencing the tax bill include the home's assessed value, local tax rates, and any applicable exemptions or deductions. For homeowners, this means that if their property is valued higher, they will face a larger tax bill. For instance, the median home price in Kiowa is $116,030. Tax bills in this area can vary significantly, with the 25th percentile at $266 and the 75th percentile reaching $1,440. At the 90th percentile, homeowners might see tax bills as high as $1,836. Compared to the national median property tax rate of 0.99%, residents in Kiowa experience a range of tax bills, reflecting the diversity in property values and local tax policies. This variation can significantly impact homeowners' annual financial planning and budgeting.
Average Kiowa Tax Bill
$630
Average Atoka County Tax Bill
$584
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Kiowa, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74553 | $151 | $266 | $630 | $1,440 | $1,836 |
Source: Ownwell