Chickasha, Oklahoma Property Taxes
The median property tax rate in Chickasha, OK is 1.01%, slightly higher than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Chickasha at $79,447, the typical annual property tax bill reaches $761, which is significantly lower than the national median of $2,690. Property taxes in Chickasha are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Chickasha'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 Chickasha 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
Chickasha, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.01%
Estimate Property Tax Bill
$802
Ownwell’s Chickasha Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chickasha with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chickasha 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 Chickasha, Oklahoma
Property taxes in Chickasha, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chickasha is 1.01%, higher than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Chickasha set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chickasha 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 Chickasha's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73018 zip code has both the highest and lowest median property tax rate of 1.01%. Understanding how these cities compare with Chickasha 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 Chickasha Tax Rate
1.01%
Average Grady County Tax Rate
1.03%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chickasha, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73018 | 0.52% | 0.77% | 1.01% | 1.14% | 1.21% |
Source: Ownwell
Property Tax Assessment Values Across Chickasha, Oklahoma
In Chickasha, 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 Chickasha, 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 Chickasha helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Chickasha, the median home price is $79,447, with the 25th percentile tax bill at $433 and the 75th percentile tax bill at $1,371. The highest and lowest median tax bill is $760 in the 73018 zip code.
Average Chickasha Assessed Value
$79,447
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 Chickasha, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73018 | $36,594 | $51,167 | $79,394 | $134,655 | $198,310 |
Source: Ownwell
Property Tax Bills Across Chickasha, Oklahoma
In Chickasha, located in Grady County, OK, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the home's market value, and it forms the basis for the property tax calculation. For instance, with a median home price of $79,447, the tax bill can vary significantly. The 25th percentile tax bill is around $433, while the 75th percentile tax bill reaches $1,371. At the 90th percentile, homeowners might see tax bills as high as $2,083. Several factors influence these tax bills, including property characteristics, local tax rates, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Chickasha's rates can be relatively modest or substantial, depending on the specific property and its assessed value. This variability in property tax bills can significantly impact homeowners, affecting their overall financial planning and housing affordability.
Average Chickasha Tax Bill
$761
Average Grady County Tax Bill
$1,186
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Chickasha, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73018 | $238 | $433 | $760 | $1,370 | $2,083 |
Source: Ownwell