Lawton, Oklahoma Property Taxes
The median property tax rate in Lawton, OK is 1.18%, which is higher than both the national median of 0.99% and Oklahoma's state median of 0.97%. With a median home value of $95,250 in Lawton, the typical annual property tax bill is $970, falling below the national median of $2,690. Property taxes in Lawton are calculated based on the tax assessed value, which often remains lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Lawton's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Lawton or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lawton, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.18%
Estimate Property Tax Bill
$1,124
Ownwell’s Lawton Property Tax Bill Calculator empowers homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Lawton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lawton to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities and make informed decisions. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is determined by Comanche County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Lawton, Oklahoma
Property taxes in Lawton, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lawton is 1.18%, higher than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Lawton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lawton estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Lawton's effective property tax rate to other areas in Oklahoma and the national median. For comparison, the 73505 zip code has the highest median property tax rate of 1.22%, while the 73501 zip code has the lowest median tax rate of 1.05%. Understanding how these areas compare with Lawton provides valuable insights into the varying tax landscape across Comanche County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lawton Tax Rate
1.18%
Average Comanche County Tax Rate
1.15%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lawton, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73501 | 0.76% | 0.91% | 1.05% | 1.22% | 1.22% |
| 73505 | 0.95% | 1.09% | 1.22% | 1.22% | 1.22% |
| 73507 | 0.84% | 0.99% | 1.14% | 1.22% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Lawton, Oklahoma
In Lawton, Oklahoma, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by local authorities for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. Assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. In Lawton, the median home price is $95,250, with the highest median tax bill of $1,084 in zip code 73505 and the lowest median tax bill of $731 in zip code 73501. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lawton Assessed Value
$95,250
Average Comanche County Assessed Value
$99,838
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lawton, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73501 | $16,816 | $33,263 | $76,920 | $132,318 | $180,227 |
| 73505 | $40,541 | $61,944 | $101,362 | $159,748 | $241,870 |
| 73507 | $32,453 | $48,987 | $91,022 | $179,041 | $262,535 |
Source: Ownwell
Property Tax Bills Across Lawton, Oklahoma
In Lawton, located in Comanche County, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. The assessed value is then multiplied by the local tax rate to determine the final tax bill. Several factors influence the assessed value, including the home's size, location, and condition. For homeowners in Lawton, the median home price is $95,250, and property tax bills can vary significantly. The tax bill at the 25th percentile is $566, while at the 75th percentile, it rises to $1,604. The highest median tax bill in the area is $1,084 in the 73505 zip code, whereas the lowest median tax bill is $731 in the 73501 zip code. These tax bills have a direct impact on homeowners, affecting their annual expenses and overall housing affordability. Compared to the national median property tax rate of 0.99%, Lawton's property taxes provide a relatively moderate financial burden for residents.
Average Lawton Tax Bill
$970
Average Comanche County Tax Bill
$997
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Lawton, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73501 | $176 | $340 | $731 | $1,265 | $1,798 |
| 73505 | $442 | $690 | $1,084 | $1,691 | $2,529 |
| 73507 | $351 | $512 | $857 | $1,716 | $2,700 |
Source: Ownwell