Chandler, Oklahoma Property Taxes
The median property tax rate in Chandler, OK is 0.82%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $110,633 in Chandler, the typical annual property tax bill is approximately $796, well below the national median of $2,690. Property taxes in Chandler are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Chandler'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 Chandler or another part of Lincoln County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Chandler, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.82%
Estimate Property Tax Bill
$907
Ownwell’s Chandler Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chandler with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chandler 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 Chandler, Oklahoma
Property taxes in Chandler, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chandler is 0.82%, lower than the U.S. national median of 0.99%. Local government entities within Chandler set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chandler 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 Chandler's effective property tax rate to other areas and the national median. For comparison, the 74834 zip code has both the highest and lowest median property tax rate of 0.82%. Understanding how these rates compare with Chandler 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 Chandler Tax Rate
0.82%
Average Lincoln County Tax Rate
0.78%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chandler, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74834 | 0.41% | 0.60% | 0.82% | 0.94% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Chandler, Oklahoma
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Chandler, Oklahoma. 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 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 Chandler, 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. For instance, the zip code 74834 has the highest median tax bill of $796, which is also the lowest median tax bill in the area. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Chandler Assessed Value
$110,633
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 Chandler, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74834 | $31,032 | $61,566 | $110,633 | $186,803 | $267,663 |
Source: Ownwell
Property Tax Bills Across Chandler, Oklahoma
In Chandler, located in Lincoln County, OK, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in Chandler is $110,633. Local tax authorities apply a specific tax rate to this assessed value to determine the annual property tax bill. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. For homeowners in Chandler, the property tax bills can vary widely. At the 25th percentile, the tax bill is around $395, while at the 75th percentile, it rises to approximately $1,491. For those at the 90th percentile, the tax bill can reach up to $2,262. Compared to the national median property tax rate of 0.99%, Chandler offers a relatively moderate property tax environment. Understanding these factors can help homeowners anticipate their annual tax obligations and budget accordingly.
Average Chandler Tax Bill
$796
Average Lincoln County Tax Bill
$648
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Chandler, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74834 | $196 | $395 | $796 | $1,491 | $2,262 |
Source: Ownwell