Duke, Oklahoma Property Taxes
The median property tax rate in Duke, OK is 0.94%, slightly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Duke at $71,272, the typical annual property tax bill amounts to $610, which is significantly below the national median of $2,690. Property taxes in Duke 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 Duke'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 Duke 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
Duke, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.94%
Estimate Property Tax Bill
$670
Ownwell’s DUKE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in DUKE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in DUKE 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 Duke, Oklahoma
Property taxes in Duke, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Duke is 0.94%, which is slightly below the U.S. national median of 0.99%. Local government entities within Duke set these rates annually, and they can vary significantly across different neighborhoods. Each year, Duke 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 Duke's effective property tax rate to other areas in Oklahoma and the national median. For comparison, the 73532 zip code has both the highest and lowest median property tax rates of 0.94%. Understanding how these areas compare with Duke provides valuable insights into the varying tax landscape across Jackson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Duke Tax Rate
0.94%
Average Jackson County Tax Rate
0.91%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Duke, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73532 | 0.52% | 0.73% | 0.94% | 1.13% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Duke, Oklahoma
In Duke, 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 Jackson 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 Duke, 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 Duke helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 73532 at $610, while the zip code with the lowest median tax bill is also 73532 at $610.
Average Duke Assessed Value
$71,272
Average Jackson County Assessed Value
$62,313
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Duke, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73532 | $27,132 | $40,933 | $71,272 | $122,516 | $183,764 |
Source: Ownwell
Property Tax Bills Across Duke, Oklahoma
In Duke, located in Jackson County, OK, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and is a percentage of the property's market value. Various factors influence this assessment, including the property's location, size, and condition. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. Homeowners in Duke face a range of property tax bills. For instance, the 25th percentile tax bill is $316, while the 75th percentile reaches $1,094. The 90th percentile can go as high as $2,013, indicating significant variability based on property values and assessments. The median home price in Duke is $71,272, which provides a benchmark for understanding these tax amounts. Compared to the national median property tax rate of 0.99%, Duke's property tax rates can be seen as relatively moderate, impacting homeowners by contributing to local services and infrastructure while reflecting the area's property values.
Average Duke Tax Bill
$610
Average Jackson County Tax Bill
$496
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Duke, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73532 | $192 | $316 | $610 | $1,094 | $2,013 |
Source: Ownwell