Adams, Oklahoma Property Taxes
The median property tax rate in Adams, Oklahoma is 0.42%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Adams, the typical annual property tax bill is $274, well below the national median of $2,690. Property taxes in Adams 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 Adams'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 Adams 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
Adams, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.42%
Estimate Property Tax Bill
$317
Ownwell’s Adams Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Adams with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Adams 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 Adams, Oklahoma
Property taxes in Adams, Oklahoma, are essential for funding crucial local services like public schools, road maintenance, and emergency services. The median tax rate in Adams is 0.42%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Adams set these rates annually, and they can vary across different neighborhoods. Each year, Adams 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 Adams's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73901 zip code has the highest median property tax rate of 0.42%, while the same zip code also has the lowest median tax rate of 0.42%. Understanding how these cities compare with Adams provides valuable insights into the varying tax landscape across Texas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Adams Tax Rate
0.42%
Average Texas County Tax Rate
0.69%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Adams, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73901 | 0.16% | 0.31% | 0.42% | 0.63% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Adams, Oklahoma
In Adams, 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 local 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 Adams, 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 Adams helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 73901, with a median bill of $274.
Average Adams Assessed Value
$75,380
Average Texas County Assessed Value
$112,882
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Adams, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73901 | $24,349 | $43,004 | $75,380 | $98,162 | $154,079 |
Source: Ownwell
Property Tax Bills Across Adams, Oklahoma
In Adams, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property. Factors such as location, property size, and home improvements can influence this value. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Homeowners in Adams experience a range of property tax bills. For instance, the 25th percentile tax bill is $180, while the 75th percentile tax bill reaches $484. At the 90th percentile, homeowners pay around $675 annually. These figures illustrate the variability in tax burdens depending on property values and assessments. Compared to the national median property tax rate of 0.99%, the tax rates in Adams reflect localized economic factors and property valuations. This system ensures that property taxes are proportionate to the value of one's home, impacting homeowners differently based on their property's assessed value.
Average Adams Tax Bill
$274
Average Texas County Tax Bill
$698
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Adams, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73901 | $62 | $180 | $274 | $484 | $675 |
Source: Ownwell