Dougherty, Oklahoma Property Taxes
The median property tax rate in Dougherty, OK is 0.37%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $48,700 in Dougherty, the typical annual property tax bill amounts to $214, well below the national median of $2,690. Property taxes in Dougherty are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Dougherty'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 Dougherty 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
Dougherty, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.37%
Estimate Property Tax Bill
$180
-$1,888
Ownwell’s Dougherty Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dougherty with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dougherty 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 Dougherty, Oklahoma
Property taxes in Dougherty, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dougherty is 0.38%, significantly lower than the U.S. national median of 0.99%. Local government entities within Dougherty set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dougherty 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 Dougherty's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the highest median property tax rate in the region is 0.44%, while the lowest median tax rate is 0.32%. Understanding how these cities compare with Dougherty provides valuable insights into the varying tax landscape across Murray County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dougherty Tax Rate
0.37%
Average Murray County Tax Rate
0.70%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dougherty, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73032 | 0.20% | 0.22% | 0.37% | 0.65% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Dougherty, Oklahoma
In Dougherty, 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 Dougherty, 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 Dougherty helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Dougherty is $48,700, with the 25th percentile tax bill at $113 and the 75th percentile tax bill at $250. The highest and lowest median tax bills are both $214, found in zip code 73032.
Average Dougherty Assessed Value
$48,700
Average Murray County Assessed Value
$87,065
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dougherty, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73032 | $30,500 | $35,149 | $48,700 | $62,058 | $83,317 |
Source: Ownwell
Property Tax Bills Across Dougherty, Oklahoma
In Dougherty, OK, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. The median home price in Dougherty stands at $48,700. Property tax bills can vary significantly, with the 25th percentile tax bill at $113 and the 75th percentile at $250. For those at the higher end, the 90th percentile tax bill reaches $465. These figures reflect a range of factors, including property size, location, and any applicable exemptions or deductions. The highest and lowest median tax bills in the area are both $214, found in zip code 73032. Compared to the national median property tax rate of 0.99%, Dougherty's rates offer a relatively affordable option for homeowners. Understanding these factors can help homeowners anticipate their annual tax obligations and plan their finances accordingly, ensuring they are well-prepared for any property tax assessments.
Average Dougherty Tax Bill
$214
Average Murray County Tax Bill
$515
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Dougherty, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73032 | $75 | $113 | $214 | $250 | $465 |
Source: Ownwell