Rush Springs, Oklahoma Property Taxes
The median property tax rate in Rush Springs, OK is 0.75%, notably lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Rush Springs at $167,417, the typical annual property tax bill amounts to $1,204, significantly below the national median of $2,690. Property taxes in Rush Springs are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Rush Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Rush Springs 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
Rush Springs, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$1,256
Ownwell’s RUSH SPRINGS Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in RUSH SPRINGS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in RUSH SPRINGS 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 Rush Springs, Oklahoma
Property taxes in Rush Springs, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rush Springs is 0.75%, lower than both the Oklahoma state median of 0.87% and the U.S. national median of 0.99%. Local government entities within Rush Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rush Springs 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 Rush Springs' effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73082 zip code has the highest median property tax rate of 0.75%, while the same zip code also has the lowest median tax rate of 0.75%. Understanding how these cities compare with Rush Springs provides valuable insights into the varying tax landscape across Grady County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rush Springs Tax Rate
0.75%
Average Comanche County Tax Rate
1.15%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rush Springs, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73082 | 0.39% | 0.69% | 0.75% | 0.81% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Rush Springs, Oklahoma
In Rush Springs, 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 local 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 Rush Springs, 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 Rush Springs 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 $1204, found in zip code 73082.
Average Rush Springs Assessed Value
$167,417
Average Comanche County Assessed Value
$99,838
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rush Springs, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73082 | $53,326 | $140,296 | $167,417 | $189,524 | $260,480 |
Source: Ownwell
Property Tax Bills Across Rush Springs, Oklahoma
In Rush Springs, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate set by Comanche County. Factors such as property improvements, market conditions, and neighborhood changes can influence the assessed value. For example, the median home price in Rush Springs is $167,417, and the property tax rate in Comanche County is relatively low compared to the national median of 0.99%. Homeowners in Rush Springs typically see tax bills ranging from $1,079 at the 25th percentile to $2,158 at the 90th percentile. The highest median tax bill in the area is $1,204, which is consistent across all zip codes in the city. These tax bills fund essential public services such as schools, roads, and emergency services, directly impacting the quality of life in Rush Springs. Understanding how these factors contribute to property tax calculations can help homeowners anticipate their annual tax obligations.
Average Rush Springs Tax Bill
$1,204
Average Comanche County Tax Bill
$997
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Rush Springs, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73082 | $214 | $1,079 | $1,204 | $1,555 | $2,158 |
Source: Ownwell