Kiefer, Oklahoma Property Taxes
The median property tax rate in Kiefer, OK is 0.95%, slightly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $184,074 in Kiefer, the typical annual property tax bill is $1,752, which is below the national median of $2,690. Property taxes in Kiefer are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Kiefer'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 Kiefer or another part of Creek County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kiefer, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$1,749
-$18,326
Ownwell’s Kiefer Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kiefer with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kiefer 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 Kiefer, Oklahoma
Property taxes in Kiefer, Oklahoma, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Kiefer is 0.95%, slightly below the U.S. national median of 0.99%. Local government entities within Kiefer set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kiefer 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 Kiefer's effective property tax rate to other areas in Oklahoma and the national median. For comparison, the 74041 zip code has the highest median property tax rate of 0.95%, while the same zip code also has the lowest median tax rate of 0.95%. Understanding how these areas compare with Kiefer provides valuable insights into the varying tax landscape across Creek County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kiefer Tax Rate
0.95%
Average Creek County Tax Rate
0.88%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kiefer, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74041 | 0.56% | 0.80% | 0.95% | 1.03% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across Kiefer, Oklahoma
In Kiefer, 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 Creek 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. In Kiefer, 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 Kiefer helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Kiefer, the zip code 74041 consistently shows the highest and lowest median tax bill at $1,752.
Average Kiefer Assessed Value
$184,074
Average Creek County Assessed Value
$130,263
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kiefer, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74041 | $52,594 | $113,138 | $184,074 | $229,106 | $285,000 |
Source: Ownwell
Property Tax Bills Across Kiefer, Oklahoma
In Kiefer, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The median home price in Kiefer is $184,074, and property tax rates in Creek County play a significant role in determining the final bill. Homeowners in Kiefer can expect their annual property tax bills to vary widely depending on their property's assessed value. For instance, tax bills can range from the 25th percentile at $929 to the 75th percentile at $2,262, with the 90th percentile reaching up to $2,781. These tax bills are influenced by several factors, including the home's assessed value, local tax rates, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Kiefer's rates offer a unique landscape for homeowners. Understanding these variables helps homeowners anticipate their annual financial obligations, ensuring they are better prepared to manage their property-related expenses.
Average Kiefer Tax Bill
$1,752
Average Creek County Tax Bill
$1,080
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Kiefer, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74041 | $386 | $929 | $1,752 | $2,262 | $2,781 |
Source: Ownwell