Ponca City, Kay County, Oklahoma Property Taxes
The median property tax rate in Ponca City, OK is 0.76%, notably lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Ponca City at $84,954, the typical annual property tax bill amounts to $648, significantly below the national median of $2,690. Property taxes in Ponca City are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Ponca City'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 Ponca City 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
Ponca City, Kay County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$646
$599
Ownwell’s Ponca City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ponca City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ponca 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 Ponca City, Kay County, Oklahoma
Property taxes in Ponca 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 Ponca City is 0.76%, lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Ponca City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ponca 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 Ponca City's effective property tax rate to other areas in Oklahoma and the national median. For comparison, the 74604 zip code has the highest median property tax rate of 0.84%, while the 74601 zip code has the lowest median tax rate of 0.71%. Understanding how these areas compare with Ponca 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 Ponca City Tax Rate
0.76%
Average Kay County Tax Rate
0.75%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ponca City, Kay County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74601 | 0.44% | 0.56% | 0.71% | 0.89% | 1.03% |
| 74604 | 0.59% | 0.70% | 0.84% | 0.97% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Ponca City, Kay County, Oklahoma
In Ponca 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 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 Ponca 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. 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 Ponca City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Ponca City is $1,279 in zip code 74604, while the lowest is $445 in zip code 74601.
Property Tax Assessment Values Across Ponca City, Kay County, Oklahoma
Source: Ownwell
$44,569
$99,335
$154,100
Average Ponca City Assessed Value
$84,954
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 Ponca City, Kay County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74601 | $28,528 | $39,908 | $60,410 | $97,196 | $150,817 |
| 74604 | $76,850 | $109,999 | $154,100 | $219,446 | $315,766 |
Source: Ownwell
Property Tax Bills Across Ponca City, Kay County, Oklahoma
In Ponca City, property tax bills are calculated based on the assessed value of your home, which is a percentage of its market value. The median home price in Ponca City is $84,954. The local tax rate in Kay County plays a significant role in determining the final tax bill. Homeowners in this region can expect their tax bills to vary, with the 25th percentile at $342 and the 75th percentile reaching $1,171. At the higher end, the 90th percentile tax bill can go up to $1,900. Factors such as property size, location, and any applicable exemptions or deductions also influence the final amount. For instance, the highest median tax bill in Ponca City is $1,279 in the 74604 zip code, while the lowest is $445 in the 74601 zip code. These property taxes are essential for funding local services like schools, public safety, and infrastructure, directly affecting the quality of life for homeowners. Comparing this to the national median property tax rate of 0.99%, Ponca City’s rates offer a relatively affordable option for residents.
Average Ponca City Tax Bill
$648
Average Kay County Tax Bill
$552
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Ponca City, Kay County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74601 | $164 | $266 | $445 | $737 | $1,156 |
| 74604 | $589 | $868 | $1,279 | $1,910 | $2,875 |
Source: Ownwell