Section X of the Oklahoma's State Constitution represents the main legal document regarding taxation in the State of Oklahoma. Property taxes are determined at local levels, being used for schools, fire and police protection, and other public services and benefits.
Grady County Assessor determines the market value for all taxable real property in the county. Market value has been defined by The Supreme Court as the sale price of real estate as agreed upon between a willing buyer and willing seller, with neither being under duress to buy or sell.
Grady County Assessor is also responsible for establishing the assessed value of properties. Assessed value is calculated by multiplying taxable market value with assessment ratio, which, currently is 11%. The assessment process takes place every year.
Exemptions and Net Assessed Value
Net assessed value represents the gross assessed value less any tax exemptions that apply. Several exemptions are available in Grady County, which may lower the property's tax bill.
We have no information about whether any exemptions currently apply to this property. Therefore, the net assessed value will be equal to the gross assessed value.
Property tax is calculated by multiplying the property's net assessed value by the total millage rates applicable to it and is an estimate of what an owner not benefiting from any exemptions would pay. The rates are expressed as millages (i.e the actual rates multiplied by 1000).
Actual taxes might differ from the figures displayed here due to various abatement and financial assistance programs.
For more information please visit the web pages of Grady County's Assessor, Treasurer or look up property's current tax situation and property valuation.