Pond Creek, Grant County, Oklahoma Property Taxes
The median property tax rate in Pond Creek, OK is 0.62%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Pond Creek at $88,336, the typical annual property tax bill is $488, well below the national median of $2,690. Property taxes in Pond Creek are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Pond Creek'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 Pond Creek 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
Pond Creek, Grant County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$548
$508
Ownwell’s Pond Creek Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pond Creek with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pond Creek 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 Pond Creek, Grant County, Oklahoma
Property taxes in Pond Creek, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pond Creek is 0.62%, which is lower than the U.S. national median of 0.99%. Local government entities within Pond Creek set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pond Creek 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 Pond Creek's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 73766 has both the highest and lowest median property tax rate of 0.62%. Understanding how these cities compare with Pond Creek provides valuable insights into the varying tax landscape across Grant County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pond Creek Tax Rate
0.62%
Average Grant County Tax Rate
0.60%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pond Creek, Grant County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73766 | 0.28% | 0.45% | 0.62% | 0.81% | 0.97% |
Source: Ownwell
Property Tax Assessment Values Across Pond Creek, Grant County, Oklahoma
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Pond Creek, Oklahoma. The market value represents 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 Grant 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 Pond Creek, 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. For instance, the median home price in Pond Creek is $88,336, with tax bills ranging from $270 at the 25th percentile to $1,640 at the 90th percentile. Notably, the highest and lowest median tax bills are both $488 in zip code 73766. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Pond Creek, Grant County, Oklahoma
Source: Ownwell
$69,612
$123,583
$177,554
Average Pond Creek Assessed Value
$88,336
Average Grant County Assessed Value
$83,486
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pond Creek, Grant County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73766 | $33,958 | $62,197 | $88,336 | $136,436 | $203,587 |
Source: Ownwell
Property Tax Bills Across Pond Creek, Grant County, Oklahoma
Property tax bills in Pond Creek, located in Grant County, OK, are calculated based on the assessed value of your property, which is a percentage of its market value. The local tax rate, also known as the mill rate, is applied to this assessed value to determine your annual tax bill. For homeowners in Pond Creek, the median home price stands at $88,336. Tax bills can vary significantly depending on the value of the property. For example, the 25th percentile tax bill is around $270, while those in the 75th percentile can expect to pay approximately $942. At the higher end, the 90th percentile tax bill reaches up to $1,640. The highest median tax bill in the area is $488, which is relatively low compared to the national median property tax rate of 0.99%. These property taxes are essential for funding local services, including schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners in Pond Creek.
Average Pond Creek Tax Bill
$488
Average Grant County Tax Bill
$460
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Pond Creek, Grant County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73766 | $129 | $270 | $488 | $942 | $1,640 |
Source: Ownwell