Monkey Island, Delaware County, Oklahoma Property Taxes
Median Monkey Island, OK effective property tax rate: 0.92%, significantly lower than the national median of 1.02%, but lower than the Oklahoma state median of 0.97%.
Median Monkey Island, OK home value: $337,800
Median annual Monkey Island, OK tax bill: $2,958, $558 higher than the national median property tax bill of $2,400.
How are property taxes in Delaware County calculated?
Property taxes in Monkey Island, OK are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Monkey Island’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Monkey Island, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Monkey Island, Delaware County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.92%
Estimate Property Tax Bill
$3,108
$2,884
Property Tax Rates Across Monkey Island, Delaware County, Oklahoma
Local government entities set tax rates, which can vary widely within a state. In Monkey Island, Delaware County, Oklahoma, the process for determining property tax rates is similar to other regions. Each year, the county estimates its budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While legislative decisions and public votes play a role in setting these rates and budgets, this is essentially the annual process.
Monkey Island’s effective property tax rate can be compared to other cities in Oklahoma and the broader U.S. landscape. The median property tax rate in Oklahoma is lower than the national median of 1.02%. This favorable rate can be an attractive factor for property owners considering the overall tax burden. The lower tax rate in Oklahoma compared to the national average can be a significant advantage for homeowners, potentially reducing annual expenses and increasing the appeal of living in this region. Understanding these differences can help property owners make informed decisions about their investments.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Monkey Island Tax Rate
0.92%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Delaware County Tax Rate
0.78%
Median Effective Oklahoma Tax Rate
0.97%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Monkey Island, Delaware County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74331 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Monkey Island, Delaware County, Oklahoma
When examining property taxes in Monkey Island, Oklahoma, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Delaware County Assessor estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Delaware County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Monkey Island. For example, the median home price in Monkey Island is $337,800, with tax bills ranging significantly across the county.
Property Tax Assessment Values Across Monkey Island, Delaware County, Oklahoma
Source: Ownwell
$66,992
$139,600
$212,208
Median Monkey Island Market Value
$337,800
Median Delaware County Market Value
$141,764
Median Oklahoma Market Value
$137,280
Median United States Market Value
$235,294
Property Tax Assessment Values Across Monkey Island, Delaware County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74331 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Monkey Island, Delaware County, Oklahoma
In Monkey Island, Delaware County, OK, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the property's market value. Homeowners in this area face a median property tax bill that significantly varies, with the 25th percentile at $1,006 and the 90th percentile reaching $6,394. This wide range highlights how property values and tax rates can impact the financial burden on homeowners. Compared to the national median property tax bill of $2,400, some residents may find their tax obligations more manageable, while others face higher costs.
Factors influencing the tax bill include changes in property value, local government budgets, and tax rates. For homeowners seeking relief, Ownwell offers valuable assistance by identifying potential exemptions and appealing over-assessments. By leveraging expert knowledge and negotiation skills, Ownwell can help reduce the financial strain of property taxes, ensuring homeowners pay only their fair share. This service is particularly beneficial in areas with fluctuating property values and tax rates.
Median Monkey Island Tax Bill
$2,958
Median Delaware County Tax Bill
$1,031
Median Oklahoma Tax Bill
$1,269
Median United States Tax Bill
$2,400
Property Tax Bills Across Monkey Island, Delaware County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74331 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell