Alex, Oklahoma Property Taxes
The median property tax rate in Alex, OK is 0.81%, lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Alex at $75,332, the typical annual property tax bill is $598, significantly below the national median of $2,690. Property taxes in Alex are calculated based on the assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Alex'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 Alex or another part of Grady County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Alex, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$610
Ownwell’s ALEX Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in ALEX with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in ALEX 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 Alex, Oklahoma
Property taxes in Alex, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Alex is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within Alex set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alex 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 Alex's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73002 zip code has both the highest and lowest median property tax rate of 0.81%. Understanding how these areas compare with Alex 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 Alex Tax Rate
0.81%
Average Grady County Tax Rate
1.03%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alex, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73002 | 0.34% | 0.55% | 0.81% | 1.04% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Alex, Oklahoma
In Alex, 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 Grady 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 Alex, 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 Alex helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Alex is $75,332, with tax bills ranging from $289 at the 25th percentile to $1,791 at the 90th percentile. The highest and lowest median tax bills are both $598 in the 73002 zip code.
Average Alex Assessed Value
$75,332
Average Grady County Assessed Value
$126,704
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alex, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73002 | $29,595 | $44,936 | $75,332 | $129,044 | $191,457 |
Source: Ownwell
Property Tax Bills Across Alex, Oklahoma
In ALEX, located in Grady County, OK, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. This assessed value is a percentage of the property's market value, reflecting current real estate trends. Factors such as property size, location, and condition play a significant role in determining this value. The tax rate, applied to the assessed value, ultimately determines the tax bill. Homeowners in ALEX can expect their property tax bills to vary widely. For instance, the 25th percentile tax bill stands at $289, while the 75th percentile reaches $1,110, and the 90th percentile hits $1,791. The median home price in the city is $75,332, which helps put these figures into perspective. The highest and lowest median tax bills in the region are both $598, indicating a relatively uniform tax landscape within the specified zip code of 73002. Compared to the national median property tax rate of 0.99%, ALEX's property taxes provide a balanced approach, impacting homeowners based on their property's assessed value.
Average Alex Tax Bill
$598
Average Grady County Tax Bill
$1,186
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Alex, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73002 | $116 | $289 | $598 | $1,110 | $1,791 |
Source: Ownwell