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Oklahoma 2022 tax brackets12/22/2023 ![]() ![]() These surtaxes cumulatively raised approximately $2.4 million in 2008. ![]() No city or township has a rate higher than 2.25%, and 36 have a lower rate, as low as 0.25%. The surtaxes are generally uniform: county taxes is 0.75%, and city and township taxes are 2.25%. However, 30 Kansas counties, 105 Kansas cities, and 400 Kansas townships impose a local intangibles tax on interest, dividends, and securities transactions (but not wages). Unlike many other states, Kansas does not allow municipalities or school districts to collect additional surtaxes on earned income on top of the Kansas income tax. You can learn more about how the Kansas income tax compares to other states' income taxes by visiting our map of income taxes by state. Kansas' maximum marginal income tax rate is the 1st highest in the United States, ranking directly below Kansas' %. Like the Federal Income Tax, Kansas' income tax allows couples filing jointly to pay a lower overall rate on their combined income with wider tax brackets for joint filers. Schools are followed by city bond issues, county government, vocational-technical schools, and the county health department.Kansas collects a state income tax at a maximum marginal tax rate of %, spread across tax brackets. Generally, local schools receive the largest share of the property tax. Oklahoma's property tax with some changes has fulfilled this basic function since statehood. As in most states in the United States, property taxes are the backbone for funding of local government and schools. Property taxes are an important source of revenue for local schools, vocational-technical education, libraries, and city and county government. Questions concerning tax bills can be answered by the County Treasurer. If nothing is paid by December 31st, the full amount becomes delinquent January 1st. If exactly one-half is paid by December 31st, then the last half is due by March 31st. Taxes may be paid in two installments according to a payment schedule. The County Treasurer sends out a tax bill at the end of November each year. 10721 millage rate (one example of many millage rates) = $1,179.31 Taxes When do I pay my taxes? $100,000 x 12% Assessment Ratio = 12,000 Gross Assessed Valueġ2,000 - 1000 Homestead Exemption = 11,000 Net Assessed Valueġ1 (thousand) Assessed Value x 107.21 millage rate (one example of many millage rates) = $1,179.31 Taxesġ1,000 Assessed Value x. The following example is based upon a property that has a Fair Cash Value of $100,000 with homestead exemption and a millage rate of $107.21 per thousand Assessed Value: $100,000 Fair Cash Value The method for figuring ad valorem taxes requires four steps: you must know the Fair Cash Value of your property, the Assessment Ratio, any exemptions, and the tax or millage rate for your area of the county. Rates vary in Canadian County from $65.59 to as high as $123.72 per thousand of assessed value in 2017 and can change each year. The tax or millage rate levied against a property makes a great deal of difference in the taxes paid. The rate is expressed in "mills," where one mill is one-tenth of a cent ($0.001) or one-thousandth of a dollar. The millage rate is the tax per dollar of Assessed Value of the property. There are approximately 50 different tax or millage rates in Canadian County, and those vary across the county depending on the school district, municipality, and technology center district where the property is located. Rates are not set by the County Assessor. Tax rates or millage levies are set by procedures established in the Oklahoma Constitution or voted directly by the taxpayers. The Fair Cash Value multiplied by the Assessment Ratio results in the Assessed Value. In Canadian County, the Assessment Ratio is 12%. This percentage or Assessment Ratio cannot be increased except upon approval by a majority of voters in a county. ![]() This is called a "fractional assessment system." The State Constitution states that real property shall not be assessed at a value less than 11% nor greater than 13.5% of its Fair Cash Value. Under the Oklahoma Constitution, however, taxes cannot be levied against more than 13.5% of the fair cash value. In Canadian County, the County Assessor places your property on the assessment rolls as close as possible to 100% of Fair Cash Value. ![]()
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