Dover, Oklahoma Property Taxes
The median property tax rate in Dover, OK is 0.79%, lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Dover at $119,734, the typical annual property tax bill is $839, significantly less than the national median of $2,690. Property taxes in Dover are calculated based on the assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Dover'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 Dover 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
Dover, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$946
Ownwell’s Dover Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dover with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dover 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 Dover, Oklahoma
Property taxes in Dover, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dover is 0.79%, which is lower than the U.S. national median of 0.99%. Local government entities within Dover set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dover 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 Dover's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73734 zip code has the highest median property tax rate of 0.79%, while the same zip code also has the lowest median tax rate of 0.79%. Understanding how these cities compare with Dover provides valuable insights into the varying tax landscape across Kingfisher County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dover Tax Rate
0.79%
Average Kingfisher County Tax Rate
0.84%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dover, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73734 | 0.44% | 0.60% | 0.79% | 0.98% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Dover, Oklahoma
In Dover, 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 Kingfisher 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 Dover, 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. The median home price in Dover is $119,734, with tax bills ranging from $504 at the 25th percentile to $2,406 at the 90th percentile. The highest median tax bill in the area is $839 in zip code 73734, which also has the lowest median tax bill of $839. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Dover Assessed Value
$119,734
Average Kingfisher County Assessed Value
$150,533
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dover, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73734 | $43,691 | $72,528 | $119,734 | $184,028 | $285,004 |
Source: Ownwell
Property Tax Bills Across Dover, Oklahoma
In Dover, 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 Dover is $119,734. Property tax rates in Dover can vary, but they generally reflect the local government's need to fund public services such as schools, infrastructure, and emergency services. Homeowners can expect their tax bills to fall within a range, with the 25th percentile tax bill at $504 and the 75th percentile tax bill at $1,501. For those at the higher end, the 90th percentile tax bill can reach up to $2,406. The highest median tax bill in the area is $839, which is relatively moderate compared to the national median property tax rate of 0.99%. These taxes impact homeowners by contributing to the overall cost of owning property, influencing decisions on purchasing and maintaining homes. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Dover Tax Bill
$839
Average Kingfisher County Tax Bill
$1,129
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Dover, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73734 | $259 | $504 | $839 | $1,501 | $2,406 |
Source: Ownwell