Hennessey, Kingfisher County, Oklahoma Property Taxes
Median Hennessey, OK effective property tax rate: 0.68%, significantly lower than the national median of 1.02%, but lower than the Oklahoma state median of 0.97%.
Median Hennessey, OK home value: $129,816
Median annual Hennessey, OK tax bill: $856, $1,544 lower than the national median property tax bill of $2,400.
How are property taxes in Kingfisher County calculated?
Property taxes in Hennessey, OK are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Hennessey’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Hennessey, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Hennessey, Kingfisher County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.68%
Estimate Property Tax Bill
$883
$819
Property Tax Rates Across Hennessey, Kingfisher County, Oklahoma
Local government entities have the authority to set property tax rates, leading to significant variations within a state. This occurs because each county, like Kingfisher County, estimates its necessary budget to provide essential services annually. They then divide this budget by the total assessed value of all taxable property within their jurisdiction, resulting in the property tax rate. Although votes and legislation play a role in setting these rates and budgets, this is the fundamental process followed each year.
For Hennessey in Kingfisher County, the effective property tax rate stands at 0.68%, which is notably lower than the national median property tax rate of 1.02%. This comparison highlights the potential for property owners in Hennessey to benefit from lower property tax obligations compared to the national average. Moreover, the median property tax rate in Hennessey aligns with the highest and lowest rates within its zip code, indicating a consistent tax environment for property owners. By understanding these dynamics, property owners in Hennessey can better navigate their tax responsibilities and potentially seek opportunities for appeals or exemptions.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Hennessey Tax Rate
0.68%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Kingfisher County Tax Rate
0.84%
Median Effective Oklahoma Tax Rate
0.97%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Hennessey, Kingfisher County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73742 | 0.41% | 0.53% | 0.68% | 0.83% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Hennessey, Kingfisher County, Oklahoma
When examining property taxes in Hennessey, Oklahoma, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Kingfisher County Assessor estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Kingfisher County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Hennessey. For example, the median home price in Hennessey is $129,816, with tax bills ranging significantly across the county. ZIP code 73742 has the highest median home price at $129,816.
Property Tax Assessment Values Across Hennessey, Kingfisher County, Oklahoma
Source: Ownwell
$119,734
$161,141
$202,548
Median Hennessey Market Value
$129,816
Median Kingfisher County Market Value
$150,533
Median Oklahoma Market Value
$137,280
Median United States Market Value
$235,294
Property Tax Assessment Values Across Hennessey, Kingfisher County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73742 | $55,164 | $85,365 | $129,816 | $200,572 | $313,004 |
Source: Ownwell
Property Tax Bills Across Hennessey, Kingfisher County, Oklahoma
Median Hennessey Tax Bill
$856
Median Kingfisher County Tax Bill
$1,129
Median Oklahoma Tax Bill
$1,269
Median United States Tax Bill
$2,400
Property Tax Bills Across Hennessey, Kingfisher County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73742 | $280 | $509 | $856 | $1,346 | $2,289 |
Source: Ownwell