Davenport, Oklahoma Property Taxes
The median property tax rate in Davenport, Oklahoma is 0.84%, 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 Davenport at $58,510, the typical annual property tax bill is $445, significantly less than the national median of $2,690. Property taxes in Davenport are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Davenport'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 Davenport or another part of Lincoln County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Davenport, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$491
Ownwell’s Davenport Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Davenport with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Davenport to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities, ensuring you are well-prepared for any financial obligations. For those interested in more detailed trends at the neighborhood level, additional localized information is available. Your property’s assessed value, determined by Lincoln County, is used for property tax calculations and incorporates any applicable exemptions.
Property Tax Rates Across Davenport, Oklahoma
Property taxes in Davenport, Oklahoma, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Davenport is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Davenport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Davenport 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 Davenport's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74026 zip code has both the highest and lowest median property tax rate of 0.84%, aligning with Davenport's rate. Understanding how these cities compare with Davenport 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 Davenport Tax Rate
0.84%
Average Lincoln County Tax Rate
0.78%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Davenport, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74026 | 0.46% | 0.65% | 0.84% | 1.00% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Davenport, Oklahoma
In Davenport, 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 local 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 Davenport, 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 Davenport helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $445.00, found in zip code 74026.
Average Davenport Assessed Value
$58,510
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 Davenport, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74026 | $19,459 | $35,309 | $58,510 | $90,507 | $154,900 |
Source: Ownwell
Property Tax Bills Across Davenport, Oklahoma
In Davenport, Lincoln County, OK, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in the area is $58,510. Property taxes are determined by multiplying the assessed value by the local tax rate. Various factors such as property size, location, and improvements can influence the assessed value. Homeowners in Davenport can expect varying tax bills. For instance, at the 25th percentile, the tax bill is around $239, while at the 75th percentile, it reaches approximately $814. At the 90th percentile, the tax bill can go up to $1,404. The highest and lowest median tax bills in the county are both recorded at $445 in the 74026 zip code. These property taxes fund essential public services like schools, roads, and emergency services, directly impacting the quality of life in the community. Compared to the national median property tax rate of 0.99%, Davenport homeowners might find their tax rates relatively manageable, depending on their property's assessed value.
Average Davenport Tax Bill
$445
Average Lincoln County Tax Bill
$648
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Davenport, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74026 | $131 | $239 | $445 | $814 | $1,404 |
Source: Ownwell