Lehigh, Coal County, Oklahoma Property Taxes
The median property tax rate in Lehigh, OK is 0.52%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $50,684 in Lehigh, the typical annual property tax bill is around $300, well below the national median of $2,690. Property taxes in Lehigh are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Lehigh'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 Lehigh 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
Lehigh, Coal County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.52%
Estimate Property Tax Bill
$264
$245
Ownwell’s Lehigh Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lehigh with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lehigh 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 Lehigh, Coal County, Oklahoma
Property taxes in Lehigh, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lehigh is 0.52%, significantly lower than the U.S. national median of 0.99%. Local government entities within Lehigh set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lehigh 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 Lehigh's effective property tax rate to other areas in Oklahoma and the national median. For comparison, the zip code 74556 has both the highest and lowest median property tax rate in Coal County at 0.52%. Understanding how these cities compare with Lehigh provides valuable insights into the varying tax landscape across Coal County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lehigh Tax Rate
0.52%
Average Coal County Tax Rate
0.60%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lehigh, Coal County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74556 | 0.21% | 0.37% | 0.52% | 0.73% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Lehigh, Coal County, Oklahoma
In Lehigh, 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 Coal 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 Lehigh, 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 Lehigh helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 74556 has both the highest and lowest median tax bill at $300.
Property Tax Assessment Values Across Lehigh, Coal County, Oklahoma
Source: Ownwell
$42,769
$84,013
$125,256
Average Lehigh Assessed Value
$50,684
Average Coal County Assessed Value
$69,824
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lehigh, Coal County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74556 | $18,926 | $30,582 | $50,684 | $90,380 | $140,651 |
Source: Ownwell
Property Tax Bills Across Lehigh, Coal County, Oklahoma
Property tax bills in Lehigh, located in Coal County, Oklahoma, are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Factors influencing the tax bill include the property's market value, the assessment ratio set by the county, and the local tax rate. For homeowners in Lehigh, understanding these factors is crucial. The median home price in the city is $50,684, and property tax bills can vary significantly. For example, the tax bill at the 25th percentile is $132, while at the 75th percentile, it rises to $575. At the 90th percentile, homeowners might see bills as high as $1,081. These variations illustrate how different factors like property value and assessment rates can impact what homeowners owe. Compared to the national median property tax rate of 0.99%, Lehigh's property tax environment offers a distinctive perspective on local taxation.
Average Lehigh Tax Bill
$300
Average Coal County Tax Bill
$407
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Lehigh, Coal County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74556 | $62 | $132 | $300 | $575 | $1,081 |
Source: Ownwell