Stephens County, Oklahoma Property Taxes
The median property tax rate in Stephens County is 0.81%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Stephens County at $86,689, the typical annual property tax bill is $664, significantly below the national median of $2,690. Property taxes in Stephens County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Stephens County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Duncan or another part of Stephens County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Stephens County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$702
$652
Ownwell’s Stephens County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stephens County with just two data points. By entering your property's estimated assessed value, our calculator applies the median tax rate in Stephens County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Stephens County, Oklahoma
Property taxes in Stephens County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Stephens County is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within Stephens County set these rates annually, and they can vary significantly between different areas within the county. Each year, Stephens County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Stephens County's effective property tax rate with other counties in Oklahoma and the national median. For comparison, the city of Marlow has one of the higher property tax rates in Oklahoma at 0.90%, while the city of Waurika boasts one of the lowest at 0.71%. Analyzing how Stephens County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Stephens County Tax Rate
0.81%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stephens County, Oklahoma
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Comanche | 0.44% | 0.61% | 0.78% | 0.93% | 1.00% |
| Duncan | 0.50% | 0.66% | 0.80% | 0.92% | 0.94% |
| Foster | 0.52% | 0.68% | 0.82% | 0.89% | 0.94% |
| Hastings | 0.47% | 0.74% | 0.88% | 1.00% | 1.00% |
| Loco | 0.42% | 0.58% | 0.71% | 0.81% | 0.85% |
| Marlow | 0.58% | 0.74% | 0.90% | 1.06% | 1.15% |
| Ratliff City | 0.44% | 0.60% | 0.73% | 0.78% | 0.84% |
| Velma | 0.53% | 0.66% | 0.75% | 0.85% | 0.85% |
| Waurika | 0.46% | 0.65% | 0.71% | 0.77% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Stephens County, Oklahoma
In Stephens County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Stephens County Appraisal District. The assessed value, however, 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 Stephens County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, the highest median tax bill in the county is $889 in Marlow, while the lowest is $441 in Loco. Being aware of these valuation processes in Stephens County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Stephens County, Oklahoma
Source: Ownwell
$61,393
$83,240
$105,087
Average Stephens County Assessed Value
$86,689
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stephens County, Oklahoma
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Comanche | $27,883 | $47,802 | $77,886 | $124,162 | $192,701 |
| Duncan | $23,741 | $41,557 | $82,902 | $147,501 | $222,203 |
| Foster | $31,144 | $67,099 | $102,987 | $175,352 | $274,763 |
| Hastings | $20,003 | $34,072 | $61,393 | $83,833 | $121,360 |
| Loco | $21,616 | $35,750 | $66,306 | $129,467 | $209,092 |
| Marlow | $41,405 | $65,432 | $105,087 | $169,982 | $275,233 |
| Ratliff City | $22,547 | $47,258 | $76,870 | $119,504 | $156,666 |
| Velma | $51,152 | $65,254 | $82,482 | $109,264 | $165,427 |
| Waurika | $38,972 | $60,846 | $84,232 | $100,506 | $184,451 |
Source: Ownwell
Property Tax Bills Across Stephens County, Oklahoma
In Stephens County, OK, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is typically a percentage of the market value of the property. Various factors such as the property's location, size, and improvements can influence this valuation. Once the assessed value is established, local tax rates, set by various taxing entities like school districts and municipalities, are applied to determine the final tax bill. For homeowners in Stephens County, property tax bills can vary significantly. The median home price in the county is $86,689, with tax bills ranging from the 25th percentile at $315 to the 75th percentile at $1,240, and the 90th percentile reaching as high as $1,998. The city of Marlow has the highest median tax bill at $889, while Loco has the lowest at $441. Compared to the national median property tax rate of 0.99%, Stephens County offers a relatively affordable property tax environment, which can be a crucial factor for homeowners managing their annual expenses.
Average Stephens County Tax Bill
$664
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Stephens County, Oklahoma
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Comanche | $150 | $297 | $577 | $983 | $1,617 |
| Duncan | $142 | $279 | $600 | $1,205 | $1,895 |
| Foster | $203 | $405 | $750 | $1,470 | $2,330 |
| Hastings | $118 | $205 | $456 | $776 | $1,117 |
| Loco | $92 | $218 | $441 | $938 | $1,710 |
| Marlow | $294 | $514 | $889 | $1,557 | $2,608 |
| Ratliff City | $148 | $289 | $506 | $886 | $1,206 |
| Velma | $282 | $438 | $621 | $824 | $1,364 |
| Waurika | $274 | $360 | $569 | $790 | $1,422 |
Source: Ownwell