Delaware, Oklahoma Property Taxes
The median property tax rate in Delaware, Oklahoma is 0.92%, slightly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $61,828 in Delaware, the typical annual property tax bill is $500, which is significantly below the national median of $2,690. Property taxes in Delaware are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Delaware's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Delaware 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
Delaware, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$569
Ownwell’s Delaware Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Delaware with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Delaware to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Delaware, Oklahoma
Property taxes in Delaware, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Delaware is 0.92%, lower than the U.S. national median of 0.99%. Local government entities within Delaware set these rates annually, and they can vary significantly across different neighborhoods. Each year, Delaware 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 Delaware's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74027 zip code has the highest median property tax rate of 0.92%, while the 74027 zip code also has the lowest median tax rate of 0.92%. Understanding how these cities compare with Delaware provides valuable insights into the varying tax landscape across Nowata County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Delaware Tax Rate
0.92%
Average Nowata County Tax Rate
0.83%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Delaware, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74027 | 0.43% | 0.64% | 0.92% | 1.09% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Delaware, Oklahoma
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Delaware, Oklahoma. The market value represents the price a willing buyer would pay a willing seller in an open market, influenced by factors like location, property condition, and economic trends. This value is estimated by the local 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 Delaware, 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. For example, the median home price in Delaware is $61,828, with tax bills ranging widely. The 25th percentile tax bill is $223, while the 75th percentile tax bill is $1,040. Understanding these valuation concepts helps property owners navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden. The highest and lowest median tax bills in Delaware are both $500, found in zip code 74027.
Average Delaware Assessed Value
$61,828
Average Nowata County Assessed Value
$71,248
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Delaware, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74027 | $15,855 | $25,880 | $61,828 | $138,862 | $235,649 |
Source: Ownwell
Property Tax Bills Across Delaware, Oklahoma
In Delaware, Oklahoma, property tax bills are calculated based on the assessed value of your home, which is a percentage of its market value. The median home price in Delaware is $61,828. Tax authorities in Nowata County determine the assessed value and apply the local tax rate to calculate your tax bill. The median property tax rate in Oklahoma is relatively low compared to the national median of 0.99%. Several factors influence your property tax bill, including the assessed value of your home, local tax rates, and any applicable exemptions. For instance, the tax bill for the 25th percentile is $223, while the 75th percentile sees a tax bill of $1,040, and the 90th percentile faces $1,955. These variations highlight how differences in property values and local tax rates can significantly impact what homeowners owe. Understanding these factors is crucial for homeowners, as property taxes can affect overall housing affordability and financial planning.
Average Delaware Tax Bill
$500
Average Nowata County Tax Bill
$541
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Delaware, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74027 | $98 | $223 | $500 | $1,040 | $1,955 |
Source: Ownwell