Davis, Oklahoma Property Taxes
The median property tax rate in Davis, OK is 0.88%, 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 $100,384 in Davis, the typical annual property tax bill is $926, significantly below the national median of $2,690. Property taxes in Davis are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Davis'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 Davis 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
Davis, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$883
Ownwell’s Davis Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Davis with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Davis 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 Davis, Oklahoma
Property taxes in Davis, Oklahoma, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Davis is 0.88%, which is lower than both the Oklahoma state median of 0.90% and the U.S. national median of 0.99%. Local government entities within Davis set these rates annually, and they can vary significantly across different neighborhoods. Each year, Davis 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 Davis's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 73030 zip code has the highest median property tax rate of 0.88%, while the same zip code also has the lowest median tax rate of 0.88%. Understanding how these cities compare with Davis provides valuable insights into the varying tax landscape across Garvin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Davis Tax Rate
0.88%
Average Garvin County Tax Rate
0.69%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Davis, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73030 | 0.52% | 0.68% | 0.88% | 0.95% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Davis, Oklahoma
In Davis, 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 Garvin 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 Davis, 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. The zip code 73030 in Davis has the highest median tax bill at $926, which is significantly lower than the national median property tax rate of 0.99%. Being aware of these valuation processes in Davis helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Davis Assessed Value
$100,384
Average Garvin County Assessed Value
$84,504
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Davis, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73030 | $36,677 | $55,080 | $100,384 | $169,319 | $310,906 |
Source: Ownwell
Property Tax Bills Across Davis, Oklahoma
In Davis, located in Garvin County, OK, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is determined by the county assessor and typically represents a percentage of the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the assessed value, including the property's size, location, and condition. For homeowners in Davis, the tax bill can vary significantly. For instance, the 25th percentile tax bill is around $391, while the 75th percentile tax bill reaches $1,513. At the higher end, the 90th percentile tax bill can be as much as $2,901. These property taxes fund essential local services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Compared to the national median property tax rate of 0.99%, Davis homeowners experience a varied but generally lower tax burden, reflecting the local economic conditions and property values.
Average Davis Tax Bill
$926
Average Garvin County Tax Bill
$559
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Davis, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73030 | $226 | $391 | $926 | $1,513 | $2,901 |
Source: Ownwell