Verden, Grady County, Oklahoma Property Taxes
The median property tax rate in Verden, OK is 0.74%, which is notably lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value in Verden of $61,941, the typical annual property tax bill amounts to $482, significantly under the national median of $2,690. Property taxes in Verden are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Verden'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 Verden or another part of Grady County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Verden, Grady County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$458
$425
Ownwell’s Verden Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Verden with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Verden 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 Verden, Grady County, Oklahoma
Property taxes in Verden, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Verden is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Verden set these rates annually, and they can vary significantly across different neighborhoods. Each year, Verden 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. Understanding how Verden compares with other areas 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 Verden Tax Rate
0.74%
Average Grady County Tax Rate
1.03%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Verden, Grady County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73092 | 0.30% | 0.52% | 0.74% | 0.94% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Verden, Grady County, Oklahoma
In Verden, 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'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 Verden, 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. The median home price in Verden is $61,941, with tax bills ranging from $220 at the 25th percentile to $1,514 at the 90th percentile. The zip code 73092 has the highest and lowest median tax bill, both at $482. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Verden, Grady County, Oklahoma
Source: Ownwell
$61,941
$135,272
$208,602
Average Verden Assessed Value
$61,941
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 Verden, Grady County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73092 | $33,367 | $41,783 | $61,941 | $104,890 | $181,937 |
Source: Ownwell
Property Tax Bills Across Verden, Grady County, Oklahoma
In Verden, located in Grady County, OK, property tax bills are determined based on the assessed value of a property, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to calculate the annual tax bill. For homeowners in Verden, the median home price stands at $61,941, which provides a baseline for understanding typical tax obligations in the area. The tax bill can vary significantly. For instance, at the 25th percentile, homeowners might see a tax bill around $220, while those at the 75th percentile could pay approximately $876. The highest bills, in the 90th percentile, can reach up to $1,514. These variations depend on factors such as the property's assessed value and any applicable exemptions or deductions. Comparatively, Verden’s property tax rates are below the national median property tax rate of 0.99%, making it a relatively affordable area for homeowners in terms of property tax expenses. This affordability can significantly impact homeowners, providing a financial advantage and potentially increasing the attractiveness of the area for new residents.
Average Verden Tax Bill
$482
Average Grady County Tax Bill
$1,186
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Verden, Grady County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73092 | $126 | $220 | $482 | $876 | $1,514 |
Source: Ownwell