Lenapah, Oklahoma Property Taxes
The median property tax rate in Lenapah, OK is 0.99%, aligning with the national median of 0.99% but slightly above the Oklahoma state median of 0.97%. With a median home value of $47,188 in Lenapah, the typical annual property tax bill is $427, significantly lower than the national median of $2,690. Property taxes in Lenapah are based on the assessed value, which is often below market value due to exemptions like the primary residence and agricultural exemptions. Understanding Lenapah'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 Lenapah or another part of Nowata County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lenapah, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.99%
Estimate Property Tax Bill
$467
Ownwell’s Lenapah Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lenapah with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lenapah 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 Lenapah, Oklahoma
Property taxes in Lenapah, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lenapah is 0.99%, which aligns with the U.S. national median of 0.99%. Local government entities within Lenapah set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lenapah 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 Lenapah's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74042 zip code has both the highest and lowest median property tax rate of 0.99%. Understanding how these cities compare with Lenapah provides valuable insights into the varying tax landscape across Nowata County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lenapah Tax Rate
0.99%
Average Nowata County Tax Rate
0.83%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lenapah, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74042 | 0.54% | 0.75% | 0.99% | 1.09% | 1.10% |
Source: Ownwell
Property Tax Assessment Values Across Lenapah, Oklahoma
In Lenapah, 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 Nowata County Assessor's Office 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 Lenapah, 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 Lenapah helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 74042 has the highest median tax bill at $427.00, while the lowest median tax bill is also in zip code 74042 at $427.00.
Average Lenapah Assessed Value
$47,188
Average Nowata County Assessed Value
$71,248
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lenapah, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74042 | $13,804 | $24,001 | $47,188 | $91,042 | $166,704 |
Source: Ownwell
Property Tax Bills Across Lenapah, Oklahoma
In Lenapah, located in Nowata County, OK, property tax bills are calculated based on the assessed value of your home. The assessed value is a percentage of the property's market value, and this percentage is determined by local taxing authorities. The median home price in Lenapah is $47,188, which serves as a baseline for understanding potential tax bills. Homeowners in this area can expect their property tax bills to vary significantly. At the 25th percentile, the tax bill is approximately $181, while at the 75th percentile, it rises to $896. For those at the 90th percentile, the tax bill can reach up to $1,664. These figures reflect the range of tax burdens that homeowners may experience, influenced by factors such as property improvements, neighborhood changes, and local government budgets. Comparing these rates to the national median property tax rate of 0.99%, Lenapah's property taxes are relatively modest. However, these taxes still play a crucial role in funding essential public services, impacting homeowners' overall expenses.
Average Lenapah Tax Bill
$427
Average Nowata County Tax Bill
$541
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Lenapah, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74042 | $99 | $181 | $427 | $896 | $1,664 |
Source: Ownwell