Kenefic, Johnston County, Oklahoma Property Taxes
The median property tax rate in Kenefic, OK is 0.75%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Kenefic, the typical annual property tax bill reaches $318, significantly below the national median of $2,690. Property taxes in Kenefic 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 Kenefic'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 Kenefic or another part of Johnston County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kenefic, Johnston County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$310
$287
Ownwell’s Kenefic Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kenefic with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kenefic 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 Kenefic, Johnston County, Oklahoma
Property taxes in Kenefic, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kenefic is 0.75%, lower than the U.S. national median of 0.99%. Local government entities within Kenefic set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kenefic 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 Kenefic's effective property tax rate to other areas in Oklahoma and the national median. For comparison, the 74748 zip code has a median property tax rate of 0.75%. Understanding how these areas compare with Kenefic provides valuable insights into the varying tax landscape across Johnston County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kenefic Tax Rate
0.75%
Average Johnston County Tax Rate
0.70%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kenefic, Johnston County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74748 | 0.42% | 0.59% | 0.75% | 1.05% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Kenefic, Johnston County, Oklahoma
In Kenefic, 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 Johnston County 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. 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 Kenefic helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 74748 has the highest median tax bill at $318, while also having the lowest median tax bill at the same value.
Property Tax Assessment Values Across Kenefic, Johnston County, Oklahoma
Source: Ownwell
$41,274
$82,711
$124,147
Average Kenefic Assessed Value
$41,274
Average Johnston County Assessed Value
$84,611
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kenefic, Johnston County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74748 | $9,930 | $20,302 | $41,274 | $160,413 | $289,935 |
Source: Ownwell
Property Tax Bills Across Kenefic, Johnston County, Oklahoma
In Kenefic, property tax bills are determined by the assessed value of a property, which is a fraction of its market value. The median home price in Kenefic is $41,274, and the property tax rate in Johnston County is calculated based on this assessed value. Homeowners in the 25th percentile can expect a tax bill around $137, while those in the 75th percentile may see bills up to $1,085. At the 90th percentile, the tax bill can rise to approximately $2,585. Several factors influence these tax bills, including the property's location within the specific zip code 74748, which has both the highest and lowest median tax bill of $318. These variations in tax bills affect homeowners by impacting their annual expenses and overall cost of homeownership. Compared to the national median property tax rate of 0.99%, Kenefic’s property taxes can be relatively manageable, but they still represent a significant financial consideration for residents.
Average Kenefic Tax Bill
$318
Average Johnston County Tax Bill
$521
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Kenefic, Johnston County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74748 | $83 | $137 | $318 | $1,085 | $2,585 |
Source: Ownwell