Depew, Oklahoma Property Taxes
The median property tax rate in Depew, OK is 0.68%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Depew at $105,266, the typical annual property tax bill is $674, well below the national median of $2,690. Property taxes in Depew are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Depew'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 Depew 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
Depew, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$716
Ownwell’s Depew Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Depew with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Depew 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 Depew, Oklahoma
Property taxes in Depew, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Depew is 0.68%, which is lower than the U.S. national median of 0.99%. Local government entities within Depew set these rates annually, and they can vary significantly across different neighborhoods. Each year, Depew 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 Depew's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74028 zip code has the highest median property tax rate of 0.68%, while the 74028 zip code also has the lowest median tax rate of 0.68%. Understanding how these areas compare with Depew provides valuable insights into the varying tax landscape across Creek County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Depew Tax Rate
0.68%
Average Creek County Tax Rate
0.88%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Depew, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74028 | 0.34% | 0.50% | 0.68% | 0.87% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Depew, Oklahoma
In Depew, 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 Creek County Assessor 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 Depew, 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. The median home price in Depew is $105,266, with tax bills ranging from $343 at the 25th percentile to $2,127 at the 90th percentile. The highest and lowest median tax bills, both at $674, are found in zip code 74028. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Depew Assessed Value
$105,266
Average Creek County Assessed Value
$130,263
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Depew, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74028 | $26,268 | $55,973 | $105,266 | $180,619 | $272,248 |
Source: Ownwell
Property Tax Bills Across Depew, Oklahoma
In Depew, Creek County, OK, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property improvements, changes in market conditions, and local tax levies contribute to fluctuations in the assessed value and, consequently, the tax bill. For homeowners in Depew, the median home price is $105,266. Property tax bills can vary significantly, with the 25th percentile at $343 and the 75th percentile reaching $1,300. For those in the 90th percentile, the tax bill can be as high as $2,127. The median tax bill in the area is $674, which is notably lower than the national median property tax rate of 0.99%. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Understanding how these taxes are calculated can help homeowners better anticipate their annual financial obligations.
Average Depew Tax Bill
$674
Average Creek County Tax Bill
$1,080
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Depew, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74028 | $152 | $343 | $674 | $1,300 | $2,127 |
Source: Ownwell