Dewar, Oklahoma Property Taxes
The median property tax rate in Dewar, OK is 0.64%, significantly lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Dewar at $47,978, the typical annual property tax bill is $308, which is substantially less than the national median of $2,690. Property taxes in Dewar are calculated based on the tax assessed value, which usually falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Dewar'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 Dewar or another part of Okmulgee County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dewar, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$307
Ownwell’s Dewar Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Dewar with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dewar to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, further localized information is available below. Your property’s assessed value is determined by Okmulgee County for tax calculations, considering any applicable exemptions.
Property Tax Rates Across Dewar, Oklahoma
Property taxes in Dewar, Oklahoma, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dewar is 0.64%, which is lower than both the Oklahoma state median and the U.S. national median of 0.99%. Local government entities within Dewar set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dewar 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 Dewar's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74431 zip code has the highest median property tax rate of 0.64%, while the same zip code also has the lowest median tax rate of 0.64%. Understanding how these cities compare with Dewar provides valuable insights into the varying tax landscape across Okmulgee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dewar Tax Rate
0.64%
Average Okmulgee County Tax Rate
0.92%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dewar, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74431 | 0.31% | 0.49% | 0.64% | 0.91% | 1.05% |
Source: Ownwell
Property Tax Assessment Values Across Dewar, Oklahoma
In Dewar, 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 Okmulgee County 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 Dewar, 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 Dewar helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $308 in zip code 74431, which is also the lowest median tax bill in the region.
Average Dewar Assessed Value
$47,978
Average Okmulgee County Assessed Value
$63,421
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dewar, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74431 | $22,621 | $30,934 | $47,978 | $68,156 | $98,634 |
Source: Ownwell
Property Tax Bills Across Dewar, Oklahoma
In Dewar, located in Okmulgee County, OK, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Dewar is $47,978. Property tax rates in this area are relatively low compared to the national median property tax rate of 0.99%. For instance, the 25th percentile tax bill is $170, while the 75th percentile tax bill is $473, and the 90th percentile tax bill is $723. Several factors influence the final tax bill, including property location, assessed value, and applicable exemptions. Homeowners in Dewar benefit from a more affordable tax burden, which can be a significant advantage for both current residents and potential buyers. The highest median tax bill in the area is $308, which is consistent across all relevant zip codes. This consistency provides a predictable tax environment, making financial planning easier for homeowners. Overall, the lower property tax rates in Dewar can contribute to a more favorable cost of living.
Average Dewar Tax Bill
$308
Average Okmulgee County Tax Bill
$510
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Dewar, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74431 | $123 | $170 | $308 | $473 | $723 |
Source: Ownwell