Avery, Oklahoma Property Taxes
The median property tax rate in Avery, OK is 0.98%, slightly lower than the national median of 0.99% but higher than the Oklahoma state median of 0.97%. With the median home value in Avery at $28,901, the typical annual property tax bill is $282, which is significantly below the national median of $2,690. Property taxes in Avery are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Avery'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 Avery or another part of the city, grasping the local property tax framework will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Avery, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.98%
Estimate Property Tax Bill
$283
Ownwell’s Avery Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Avery with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Avery 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 Avery, Oklahoma
Property taxes in Avery, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Avery is 0.98%, just below the U.S. national median of 0.99%. Local government entities within Avery set these rates annually, and they can vary significantly across different neighborhoods. Each year, Avery 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 Avery's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74023 zip code has both the highest and lowest median property tax rate of 0.98%. Understanding how these areas compare with Avery 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 Avery Tax Rate
0.98%
Average Lincoln County Tax Rate
0.78%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Avery, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74023 | 0.98% | 0.98% | 0.98% | 0.98% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Avery, Oklahoma
In Avery, 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 Lincoln 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 Avery, 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 Avery helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 74023 in Avery has both the highest and lowest median tax bills at $282.
Average Avery Assessed Value
$28,901
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 Avery, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74023 | $28,901 | $28,901 | $28,901 | $28,901 | $28,901 |
Source: Ownwell
Property Tax Bills Across Avery, Oklahoma
In Avery, located in Lincoln County, Oklahoma, property tax bills are calculated based on the assessed value of a home, which is derived from the market value. The assessed value is typically a percentage of the market value, and this percentage can vary by county. In Avery, the median home price stands at $28,901. The property tax rate is applied to this assessed value to determine the tax bill. Several factors influence the property tax bill, including the home's market value, assessment ratio, and the local tax rate. Homeowners in Avery can expect a median property tax bill of $282, which remains consistent across different percentiles, reflecting a stable property tax environment. This amount is significantly lower than the national median property tax rate of 0.99%, making Avery an attractive option for homeowners looking for affordability. The relatively low property tax burden can positively impact homeowners by reducing their annual expenses, thereby making homeownership more accessible and financially manageable.
Average Avery Tax Bill
$282
Average Lincoln County Tax Bill
$648
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Avery, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74023 | $282 | $282 | $282 | $282 | $282 |
Source: Ownwell