Blackwell, Kay County, Oklahoma Property Taxes
The median property tax rate in Blackwell, OK is 0.72%, 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 Blackwell, the typical annual property tax bill is $332, significantly less than the national median of $2,690. Property taxes in Blackwell are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Blackwell'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 Blackwell or another part of Kay County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Blackwell, Kay County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$321
$298
Ownwell’s BLACKWELL Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in BLACKWELL with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in BLACKWELL 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 Blackwell, Kay County, Oklahoma
Property taxes in Blackwell, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Blackwell is 0.72%, which is lower than the U.S. national median of 0.99%. Local government entities within Blackwell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Blackwell 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 Blackwell's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74631 zip code has the highest median property tax rate of 0.72%, while the same zip code also has the lowest median tax rate of 0.72%. Understanding how these areas compare with Blackwell provides valuable insights into the varying tax landscape across Kay County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Blackwell Tax Rate
0.72%
Average Kay County Tax Rate
0.75%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Blackwell, Kay County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74631 | 0.38% | 0.56% | 0.72% | 0.92% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Blackwell, Kay County, Oklahoma
In Blackwell, 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 Kay 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 Blackwell, 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 Blackwell is $44,569, with tax bills ranging from $184 at the 25th percentile to $1,121 at the 90th percentile. The highest and lowest median tax bills are both $332, found in zip code 74631. 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 Blackwell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Blackwell, Kay County, Oklahoma
Source: Ownwell
$44,569
$99,335
$154,100
Average Blackwell Assessed Value
$44,569
Average Kay County Assessed Value
$73,378
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Blackwell, Kay County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74631 | $22,361 | $28,103 | $44,569 | $83,264 | $139,921 |
Source: Ownwell
Property Tax Bills Across Blackwell, Kay County, Oklahoma
In Blackwell, located in Kay County, OK, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The median home price in Blackwell is $44,569. Property taxes are calculated based on this assessed value, and various factors such as the property's location, size, and usage can influence the final tax bill. For homeowners in Blackwell, the tax bill can vary significantly. For instance, the 25th percentile tax bill is $184, while the 75th percentile tax bill is $633. At the higher end, the 90th percentile tax bill reaches $1,121. The median tax bill in Blackwell is $332, which is significantly lower than the national median property tax rate of 0.99%. These property taxes are vital for funding local services such as schools, emergency services, and infrastructure. Homeowners in Blackwell benefit from relatively low property taxes, which can make homeownership more affordable compared to other regions with higher tax rates.
Average Blackwell Tax Bill
$332
Average Kay County Tax Bill
$552
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Blackwell, Kay County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74631 | $110 | $184 | $332 | $633 | $1,121 |
Source: Ownwell