Del City, Oklahoma County, Oklahoma Property Taxes
The median property tax rate in Del City, OK is 0.93%, slightly below both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Del City at $114,000, the typical annual property tax bill amounts to $1,020, which is less than the national median of $2,690. Property taxes in Del City are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Del City'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 Del City 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
Del City, Oklahoma County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$1,060
$984
Ownwell’s Del City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Del City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Del City 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 Del City, Oklahoma County, Oklahoma
Property taxes in Del City, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Del City is 0.93%, slightly lower than the U.S. national median of 0.99%. Local government entities within Del City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Del City 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 Del City's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 73115 has both the highest and lowest median property tax rate of 0.93%. Understanding how these areas compare with Del City provides valuable insights into the varying tax landscape across Oklahoma County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Del City Tax Rate
0.93%
Average Oklahoma County Tax Rate
1.00%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Del City, Oklahoma County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73115 | 0.67% | 0.80% | 0.93% | 1.01% | 1.21% |
Source: Ownwell
Property Tax Assessment Values Across Del City, Oklahoma County, Oklahoma
In Del City, 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 Oklahoma 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 Del City, 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. For instance, in zip code 73115, the highest median tax bill is $1,020, which is significantly above the national median property tax rate of 0.99%. 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 Del City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Del City, Oklahoma County, Oklahoma
Source: Ownwell
$64,500
$428,500
$792,500
Average Del City Assessed Value
$114,000
Average Oklahoma County Assessed Value
$192,500
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Del City, Oklahoma County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73115 | $77,000 | $92,500 | $114,000 | $140,500 | $193,750 |
Source: Ownwell
Property Tax Bills Across Del City, Oklahoma County, Oklahoma
In Del City, located in Oklahoma County, property tax bills are calculated based on the assessed value of a home, which is typically a fraction of its market value. For a median home price of $114,000, the tax bill can vary significantly. Homeowners in the 25th percentile can expect a tax bill around $805, while those in the 75th percentile might see it rise to $1,361. At the 90th percentile, the tax bill can reach up to $1,868. The tax rate in Del City is influenced by local government budgets, school funding needs, and other public services. These factors collectively determine the overall property tax rate applied to the assessed value. Compared to the national median property tax rate of 0.99%, Del City's property tax rates can be seen as relatively moderate. Homeowners should be aware of these variations, as they directly impact their annual financial obligations and can influence decisions related to buying or selling property in the area.
Average Del City Tax Bill
$1,020
Average Oklahoma County Tax Bill
$1,891
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Del City, Oklahoma County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73115 | $595 | $805 | $1,020 | $1,361 | $1,868 |
Source: Ownwell