Fallis, Lincoln County, Oklahoma Property Taxes
Median Fallis, OK effective property tax rate: 0.78%, significantly lower than the national median of 1.02%, but lower than the Oklahoma state median of 0.97%.
Median Fallis, OK home value: $39,356
Median annual Fallis, OK tax bill: $342, $2,058 lower than the national median property tax bill of $2,400.
How are property taxes in Lincoln County calculated?
Property taxes in Fallis, 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 Fallis’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Fallis, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Fallis, Lincoln County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.89%
Estimate Property Tax Bill
$357
$331
Property Tax Rates Across Fallis, Lincoln County, Oklahoma
Local government entities are responsible for setting tax rates, and these can differ significantly within a state. This variation occurs because each year, counties calculate their necessary budget to fund services and then divide this by the total value of all taxable property within their boundaries. This calculation determines the property tax rate. Although there are votes and legislation involved in establishing tax rates and budgets, this is essentially the yearly procedure.
In Fallis, located in Lincoln County, Oklahoma, property tax rates reflect this local budgeting process. The effective property tax rate in Fallis is notably lower than the national median of 1.02%, which can be an attractive aspect for property owners. Oklahoma's median property tax rate is also lower than the national average, highlighting the state's generally favorable tax environment.
For potential homeowners or investors, understanding these rates is crucial as property taxes can significantly impact overall property expenses. By comparing Fallis’s effective property tax rate to other cities in Oklahoma and the national average, property owners can make informed decisions about their investments.
Our median effective property tax rate (tax bill Ă· 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 Fallis Tax Rate
0.89%
Our median effective property tax rate (tax bill Ă· 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 Lincoln County Tax Rate
0.94%
Median Effective Oklahoma Tax Rate
0.90%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Fallis, Lincoln County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74881 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Fallis, Lincoln County, Oklahoma
When examining property taxes in Fallis, 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 Lincoln County Assessor's Office 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 Lincoln County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Fallis.
For example, the median home price in Fallis is $39,356, with tax bills ranging significantly across the county.
Property Tax Assessment Values Across Fallis, Lincoln County, Oklahoma
Source: Ownwell
$18,642
$55,226
$91,810
Median Fallis Market Value
$40,060
Median Lincoln County Market Value
$74,991
Median Oklahoma Market Value
$160,842
Median United States Market Value
$235,294
Property Tax Assessment Values Across Fallis, Lincoln County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74881 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Fallis, Lincoln County, Oklahoma
In Fallis, located in Lincoln County, OK, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Homeowners in Fallis experience a median property tax bill significantly lower than the national median of $2,400, with the 75th percentile tax bill at $478. This indicates that even higher-end tax bills in Fallis remain below the national average. Factors influencing the tax bill include the assessed value of the property and the local tax rate set by Lincoln County. For homeowners, these tax bills represent a significant expense that can impact their financial planning.
Ownwell offers a valuable service by assisting homeowners in Fallis to potentially lower their property tax bills. By providing expert property tax appeal and exemption services, Ownwell helps ensure that homeowners are not overpaying. By leveraging local knowledge and expertise, Ownwell identifies opportunities for tax savings, providing peace of mind and financial relief to property owners in Fallis.
Median Fallis Tax Bill
$358
Median Lincoln County Tax Bill
$698
Median Oklahoma Tax Bill
$1,339
Median United States Tax Bill
$2,400
Property Tax Bills Across Fallis, Lincoln County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74881 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | March 6 |
Links | |
|---|---|
| Lincoln Tax Assessor | |
| Website | www.okcountydata.com |