Laverne, Beaver County, Oklahoma Property Taxes
The median property tax rate in Laverne, Oklahoma is 0.79%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Laverne at $93,117, the typical annual property tax bill amounts to $706, substantially less than the national median of $2,690. Property taxes in Laverne 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 Laverne'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 Laverne or another part of Beaver County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Laverne, Beaver County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$736
$683
Ownwell’s Laverne Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Laverne with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Laverne 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 Laverne, Beaver County, Oklahoma
Property taxes in Laverne, Oklahoma, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Laverne is 0.79%, which is lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Laverne set these rates annually, and they can vary significantly across different neighborhoods. Each year, Laverne 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 Laverne's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73848 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 areas compare with Laverne provides valuable insights into the varying tax landscape across Beaver County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Laverne Tax Rate
0.79%
Average Beaver County Tax Rate
0.78%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Laverne, Beaver County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73848 | 0.53% | 0.67% | 0.79% | 0.84% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Laverne, Beaver County, Oklahoma
In Laverne, 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 Beaver 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 Laverne, 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 Laverne helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Laverne is $93,117, with tax bills ranging from $429 at the 25th percentile to $1,559 at the 90th percentile. The zip code 73848 has the highest and lowest median tax bill at $706.
Property Tax Assessment Values Across Laverne, Beaver County, Oklahoma
Source: Ownwell
$59,849
$80,325
$100,801
Average Laverne Assessed Value
$93,117
Average Beaver County Assessed Value
$81,838
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Laverne, Beaver County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73848 | $42,044 | $62,745 | $93,117 | $137,538 | $194,353 |
Source: Ownwell
Property Tax Bills Across Laverne, Beaver County, Oklahoma
Property tax bills in Laverne, Beaver County, OK, are calculated based on the assessed value of a property, which is derived from its market value. The assessed value is then multiplied by the local tax rate. For homeowners, this means that fluctuations in the real estate market can significantly impact their tax bills. For instance, the median home price in Laverne is $93,117. Property owners in the 25th percentile pay around $429 annually, while those in the 75th percentile see bills of approximately $1,042. High-value properties in the 90th percentile can expect to pay up to $1,559. These property taxes fund essential local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Laverne's rates can be advantageous for homeowners. Understanding these factors can help homeowners anticipate their annual tax obligations and budget accordingly.
Average Laverne Tax Bill
$706
Average Beaver County Tax Bill
$600
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Laverne, Beaver County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73848 | $265 | $429 | $706 | $1,042 | $1,559 |
Source: Ownwell