Explanation of Values:

• FAIR CASH VALUE is the value of the property according to the County Assessor’s records. NOTE: County Assessors are required by law to ANNUALLY analyze and adjust values according to the current real property market. 
• TAXABLE MARKET VALUE is the value used to arrive at an ASSESSED VALUE for the current years taxes. (Note: Due to amendments of Article X Section 8 of the Oklahoma Constitution this value will not increase more than 3% on homesteaded or agriculture properties, or more than 5% on all other types of properties, over the previous year value unless improvements were made to the property or title to the property is transferred, changed, or conveyed to another person.) 
• ASSESSED VALUE is 11.5% (RATIO) of the TAXABLE MARKET VALUE. This is the value used to calculate the current year’s tax amount. 
• NET ASSESSED VALUE is the ASSESSED VALUE less any EXEMPTIONS for which you may have qualified. (See list of exemptions below) 
• LEVY is the number used along with the NET ASSESSED in order to arrive at a tax amount. This number is set according to the needs of the county and the needs of the schools. It also includes any bond issues passed by the voters. This number has not been set for the current year, therefore last year’s levy has been applied to give you an ESTIMATED TAX AMOUNT.