Leedey, Dewey County, Oklahoma Property Taxes
The median property tax rate in Leedey, OK is 0.65%, notably lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value in Leedey of $81,691, the typical annual property tax bill amounts to $500, significantly below the national median of $2,690. Property taxes in Leedey are calculated based on the assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Leedey's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Leedey or another part of Dewey County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Leedey, Dewey County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$531
$493
Ownwell’s Leedey Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Leedey with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Leedey 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 Leedey, Dewey County, Oklahoma
Property taxes in Leedey, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Leedey is 0.65%, lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Leedey set these rates annually, and they can vary significantly across different neighborhoods. Each year, Leedey 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 Leedey's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the ZIP code 73654 has the highest median property tax rate of 0.65%, while the same ZIP code also has the lowest median tax rate of 0.65%. Understanding how these cities compare with Leedey provides valuable insights into the varying tax landscape across Dewey County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Leedey Tax Rate
0.65%
Average Dewey County Tax Rate
0.70%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Leedey, Dewey County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73654 | 0.39% | 0.50% | 0.65% | 0.79% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Leedey, Dewey County, Oklahoma
In Leedey, 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 Dewey 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 Leedey, 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 Leedey helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Leedey is $81,691, with the 25th percentile tax bill at $272 and the 75th percentile at $861. The zip code with the highest and lowest median tax bill is 73654, both at $500.
Property Tax Assessment Values Across Leedey, Dewey County, Oklahoma
Source: Ownwell
$48,154
$76,899
$105,644
Average Leedey Assessed Value
$81,691
Average Dewey County Assessed Value
$78,646
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Leedey, Dewey County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73654 | $29,893 | $44,825 | $81,691 | $131,221 | $191,406 |
Source: Ownwell
Property Tax Bills Across Leedey, Dewey County, Oklahoma
In Leedey, located in Dewey County, OK, property tax bills are calculated based on the assessed value of a property. The assessed value is typically a percentage of the property's market value. For instance, if the median home price in Leedey is $81,691, the tax bill is determined by applying the local tax rate to this assessed value. Homeowners in Leedey can expect their tax bills to vary significantly, with the 25th percentile tax bill being around $272 and the 75th percentile reaching up to $861. For those in the 90th percentile, the tax bill can be as high as $1,368. These variations are influenced by factors such as property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Leedey's rates offer a relatively affordable option for homeowners. Understanding these factors can help homeowners better anticipate their annual property tax obligations and manage their finances accordingly.
Average Leedey Tax Bill
$500
Average Dewey County Tax Bill
$505
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Leedey, Dewey County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73654 | $160 | $272 | $500 | $861 | $1,368 |
Source: Ownwell