Leedey, Oklahoma Property Taxes
The median property tax rate in Leedey, OK is 0.72%, notably lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $147,328, the typical annual property tax bill in Leedey amounts to $1,051, which is significantly below the national median of $2,690. Property taxes in Leedey are calculated based on the tax assessed value, which is generally lower than the market value due to various exemptions, including primary residence and agricultural exemptions. Understanding Leedey's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Leedey or another part of Roger Mills County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Leedey, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$1,061
Ownwell’s Leedey Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Leedey with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Leedey 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 Leedey, Oklahoma
Property taxes in Leedey, Oklahoma, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Leedey is 0.72%, which is notably lower than the U.S. national median of 0.99%. Local government entities within Leedey set these rates annually, and they can vary significantly across different neighborhoods. Each year, Leedey 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 Leedey's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the zip code 73654 has the highest median property tax rate of 0.72%, while the same zip code also has the lowest median tax rate of 0.72%. Understanding how these cities compare with Leedey provides valuable insights into the varying tax landscape across Roger Mills County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Leedey Tax Rate
0.72%
Average Roger Mills County Tax Rate
0.65%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Leedey, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73654 | 0.56% | 0.62% | 0.72% | 0.84% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Leedey, Oklahoma
In Leedey, 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 Roger Mills 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. Assessment notices in Leedey 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 Leedey helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Leedey is $147,328, with tax bills ranging from $574 at the 25th percentile to $1,912 at the 90th percentile. The zip code 73654 has both the highest and lowest median tax bill of $1,051.
Average Leedey Assessed Value
$147,328
Average Roger Mills County Assessed Value
$80,498
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Leedey, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73654 | $50,702 | $82,763 | $147,328 | $193,920 | $250,218 |
Source: Ownwell
Property Tax Bills Across Leedey, Oklahoma
In Leedey, Roger Mills County, OK, property tax bills are calculated based on the assessed value of a home. The assessed value is typically a percentage of the market value, determined by the county assessor. For instance, with a median home price of $147,328, the tax bill can vary significantly. Homeowners in the 25th percentile can expect a tax bill around $574, while those in the 75th percentile might see bills up to $1,506. For the top 10% of homes, tax bills can reach as high as $1,912. These property taxes fund essential local services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Compared to the national median property tax rate of 0.99%, homeowners in Leedey benefit from relatively lower property tax rates. However, the exact amount a homeowner pays can vary based on the specific assessed value of their property, making it crucial for homeowners to understand how their tax bills are determined and the factors influencing them.
Average Leedey Tax Bill
$1,051
Average Roger Mills County Tax Bill
$507
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Leedey, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73654 | $337 | $574 | $1,051 | $1,506 | $1,912 |
Source: Ownwell