Agra, Oklahoma Property Taxes
The median property tax rate in Agra, OK is 0.86%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Agra at $85,700, the typical annual property tax bill is $596, significantly below the national median of $2,690. Property taxes in Agra are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Agra'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 Agra or another part of Lincoln County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Agra, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$737
Ownwell's Agra Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Agra with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Agra to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by the county, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Agra, Oklahoma
Property taxes in Agra, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Agra is 0.86%, which is lower than the U.S. national median of 0.99%. Local government entities within Agra set these rates annually, and they can vary significantly across different neighborhoods. Each year, Agra 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 Agra's effective property tax rate to other regions in Oklahoma and the national median. For comparison, the zip code 74824 has both the highest and lowest median property tax rate of 0.86%. Understanding how these values compare with Agra provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Agra Tax Rate
0.86%
Average Lincoln County Tax Rate
0.78%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Agra, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74824 | 0.41% | 0.61% | 0.86% | 1.01% | 1.06% |
Source: Ownwell
Property Tax Assessment Values Across Agra, Oklahoma
In Agra, 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 the Lincoln County Appraisal District 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. In Agra, 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. Being aware of these valuation processes in Agra helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Agra are both $596, found in the 74824 zip code.
Average Agra Assessed Value
$85,700
Average Lincoln County Assessed Value
$92,516
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Agra, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74824 | $22,742 | $41,506 | $85,700 | $154,320 | $234,529 |
Source: Ownwell
Property Tax Bills Across Agra, Oklahoma
In Agra, Lincoln County, OK, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Agra is $85,700. Property taxes are determined by multiplying the assessed value by the local tax rate. Factors such as property improvements, location, and changes in market conditions can influence the assessed value. For homeowners, understanding these factors is crucial as they directly impact their annual tax bill. In Agra, property tax bills vary significantly. The 25th percentile tax bill is $306, while the 75th percentile tax bill is $1,225, and the 90th percentile tax bill reaches $2,141. Comparatively, the national median property tax rate is 0.99%, highlighting how local rates and home values can create a wide range of tax obligations. For homeowners, staying informed about these factors can help manage and potentially reduce their property tax burden.
Average Agra Tax Bill
$596
Average Lincoln County Tax Bill
$648
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Agra, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74824 | $162 | $306 | $596 | $1,225 | $2,141 |
Source: Ownwell