Payne County, OK Property Tax Search
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In-depth Payne County, OK Property Tax Information
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See detailed property tax information from the sample report for 4808 N sangre Rd, Payne County, OK
Property Tax Calculation
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.
Market Value
Payne 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.
Assessed Value
Payne County Assessor is also responsible for establishing the assessed value of properties. Assessed value is calculated by multiplying taxable market value with assessment ratio. Real property shall not be assessed for ad valorem taxation at a value less than 10% nor greater than 15% of its fair cash value.The assessment process takes place every year.
Exemptions and Taxable Value
Taxable value represents the assessed value less any tax exemptions that apply. Several exemptions are available in Payne County, which may lower the property's tax bill.
We have no information about whether any exemptions currently apply to this property. Therefore, the taxable value will be equal to the assessed value.
Property Tax
Property tax is calculated by multiplying the property's net assessed value by the total tax 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 Payne County's Assessor, Treasurer or look up property's current valuation and tax situation.
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Payne County Stats for Property Taxes
Explore the charts below for quick facts on Payne County effective tax rates, median real estate taxes paid, home values, income levels and homeownership rates, and compare them to state and nationwide trends.
Effective tax rate (%)
0.88% of Assessed Home Value
0.85% of Assessed Home Value
1.02% of Assessed Home Value
Median real estate taxes paid
$1,730
$1,445
$2,869
Median home value
$196,100
$170,500
$281,900
Median income
$46,658
$61,364
$75,149
Owner occupied housing (%)
51.5%
65.9%
64.8%
Renter occupied housing (%)
48.5%
34.1%
35.2%
Frequently Asked Questions on Property Taxes
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