Lucien, Oklahoma Property Taxes
The median property tax rate in Lucien, OK is 0.87%, 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 $77,770 in Lucien, the typical annual property tax bill amounts to $620, significantly below the national median of $2,690. Property taxes in Lucien are calculated based on the tax-assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural use. Understanding Lucien'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 Lucien or another part of Noble County, gaining insights into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lucien, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$677
-$7,091
Ownwell’s Lucien Property Tax Bill Calculator is a valuable resource for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Lucien with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Lucien to provide an estimate of 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 Noble County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Lucien, Oklahoma
Property taxes in Lucien, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lucien is 0.87%, which is lower than the U.S. national median of 0.99%. Local government entities within Lucien set these rates annually, and they can vary across different neighborhoods. Each year, Lucien 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 Lucien's effective property tax rate to other areas in Noble County and the national median. For comparison, the 73757 zip code has the same median property tax rate of 0.87%. Understanding how these cities compare with Lucien provides valuable insights into the varying tax landscape across Noble County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lucien Tax Rate
0.87%
Average Noble County Tax Rate
0.91%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lucien, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73757 | 0.51% | 0.67% | 0.87% | 1.05% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Lucien, Oklahoma
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Lucien, Oklahoma. 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 Noble 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 Lucien, 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. For instance, the highest median tax bill in Lucien is $620 in the 73757 zip code, while the lowest is also $620 in the same zip code. This understanding helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lucien Assessed Value
$77,770
Average Noble County Assessed Value
$78,656
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lucien, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73757 | $14,893 | $34,743 | $77,770 | $144,229 | $198,543 |
Source: Ownwell
Property Tax Bills Across Lucien, Oklahoma
In Lucien, Noble County, OK, property tax bills are calculated based on the assessed value of your home, which is determined by local tax assessors. The assessed value is typically a percentage of your property's market value. For example, with a median home price of $77,770, the assessed value is used to calculate the tax bill, factoring in the local tax rate and any applicable exemptions. Homeowners in Lucien experience a range of property tax bills. At the 25th percentile, the tax bill is around $294, while at the 75th percentile, it rises to $1,228. For those in the 90th percentile, the tax bill can reach up to $1,701. This variation is influenced by factors such as property size, location, and improvements. Compared to the national median property tax rate of 0.99%, Lucien's property tax bills reflect local economic conditions and policy decisions. These tax bills directly impact homeowners by contributing to local services and infrastructure, thus playing a crucial role in the community's overall development and quality of life.
Average Lucien Tax Bill
$620
Average Noble County Tax Bill
$666
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Lucien, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73757 | $110 | $294 | $620 | $1,228 | $1,701 |
Source: Ownwell