Kaw City, Oklahoma Property Taxes
The median property tax rate in Kaw City, OK is 0.85%, 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 Kaw City at $87,637, the typical annual property tax bill amounts to $654, significantly below the national median of $2,690. Property taxes in Kaw City are calculated based on the assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Kaw City’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 Kaw City or another part of Kay County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kaw City, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$745
$691
Ownwell’s Kaw City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kaw City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kaw City 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 Kaw City, Oklahoma
Property taxes in Kaw City, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kaw City is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Kaw City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kaw City 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 Kaw City's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74641 zip code has the highest median property tax rate of 0.85%, while the same zip code also has the lowest median tax rate of 0.85%. Understanding how these cities compare with Kaw City 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 Kaw City Tax Rate
0.85%
Average Kay County Tax Rate
0.75%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kaw City, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74641 | 0.45% | 0.59% | 0.85% | 1.22% | 1.26% |
Source: Ownwell
Property Tax Assessment Values Across Kaw City, Oklahoma
In Kaw City, 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 Kaw City, 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 Kaw City is $87,637, with tax bills ranging from $330 at the 25th percentile to $1,774 at the 90th percentile. 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 Kaw City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Kaw City Assessed Value
$87,637
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 Kaw City, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74641 | $22,019 | $39,986 | $87,637 | $138,904 | $207,286 |
Source: Ownwell
Property Tax Bills Across Kaw City, Oklahoma
In Kaw City, OK, property tax bills are calculated based on the assessed value of a home, which is determined by the local county assessor. The median home price in this area is $87,637, and the property tax rate is applied to this assessed value to determine the tax bill. Several factors influence the final tax amount, including exemptions and local tax rates. For homeowners, the tax bill can vary significantly. For instance, the 25th percentile tax bill is around $330, while the 75th percentile tax bill reaches $1,147. At the higher end, the 90th percentile tax bill can be as much as $1,774. These variations are influenced by the assessed value of the property and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Kaw City's property tax rate can be more affordable, providing some relief to homeowners. However, understanding the assessed value and potential exemptions is crucial for accurately anticipating property tax obligations.
Average Kaw City Tax Bill
$654
Average Kay County Tax Bill
$552
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Kaw City, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74641 | $178 | $330 | $654 | $1,147 | $1,774 |
Source: Ownwell