Crescent, Logan County, Oklahoma Property Taxes
The median property tax rate in Crescent, OK is 1.03%, slightly higher than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $94,948 in Crescent, the typical annual property tax bill amounts to $880, which is significantly lower than the national median of $2,690. Property taxes in Crescent are calculated based on the tax assessed value, often below the market value due to exemptions like those for primary residences and agricultural properties. Understanding Crescent'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 Crescent or elsewhere in Logan County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Crescent, Logan County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.03%
Estimate Property Tax Bill
$978
$908
Ownwell’s Crescent Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Crescent with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Crescent 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 Crescent, Logan County, Oklahoma
Property taxes in Crescent, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Crescent is 1.03%, higher than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Crescent set these rates annually, and they can vary significantly across different neighborhoods. Each year, Crescent 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 Crescent's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73028 zip code has both the highest and lowest median property tax rate of 1.03%, illustrating the uniformity within Crescent. Understanding how these areas compare with Crescent provides valuable insights into the varying tax landscape across Logan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Crescent Tax Rate
1.03%
Average Logan County Tax Rate
0.98%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Crescent, Logan County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73028 | 0.58% | 0.83% | 1.03% | 1.17% | 1.24% |
Source: Ownwell
Property Tax Assessment Values Across Crescent, Logan County, Oklahoma
In Crescent, 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 Logan County Appraisal District 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 Crescent, 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 highest median tax bill in Crescent is $880 in the 73028 zip code, while the lowest median tax bill is also $880 in the same zip code. 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 Crescent helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Crescent, Logan County, Oklahoma
Source: Ownwell
$45,774
$190,891
$336,008
Average Crescent Assessed Value
$94,948
Average Logan County Assessed Value
$165,842
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Crescent, Logan County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73028 | $30,170 | $53,923 | $94,948 | $156,307 | $247,009 |
Source: Ownwell
Property Tax Bills Across Crescent, Logan County, Oklahoma
In Crescent, located in Logan County, OK, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is typically a percentage of the property's market value. Homeowners in Crescent can expect their property tax bills to fall within a range influenced by the assessed value and the local tax rate. For instance, the 25th percentile tax bill is around $461, while the 75th percentile reaches $1,555, and the 90th percentile can be as high as $2,558. The highest and lowest median tax bills in the area are both $880, indicating a degree of uniformity in assessments. Compared to the national median property tax rate of 0.99%, Crescent's tax bills reflect the local economic conditions and property values. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners in the community.
Average Crescent Tax Bill
$880
Average Logan County Tax Bill
$1,451
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Crescent, Logan County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73028 | $246 | $461 | $880 | $1,555 | $2,558 |
Source: Ownwell