Lincoln County, OK Property Tax Search
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In-depth Lincoln County, OK Property Tax Information
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Property Tax Calculation
Section X of the Oklahoma's State Constitution represents the main legal document regarding taxation in the State of Oklahoma. Property taxes are determined at local levels, being used for schools, fire and police protection, and other public services and benefits.
Lincoln County Assessor determines the market value for all taxable real property in the county. Market value has been defined by The Supreme Court as the sale price of real estate as agreed upon between a willing buyer and willing seller, with neither being under duress to buy or sell.
| Land value | $3,290 | ||||||
| Improvement value | + | $190,011 | |||||
| Miscellaneous value | + | $15,534 | |||||
| Market value | = | $208,835 | |||||
Assessed Value
Lincoln County Assessor is also responsible for establishing the assessed value of properties. Assessed value is calculated by multiplying the market value with assessment ratio, which currently is 11%. The assessment process takes place every year.
| Assessed land value | $362 | ||||||
| Assessed improvement value | + | $20,901 | |||||
| Assessed miscellaneous value | + | $1,709 | |||||
| Assessed value | = | $22,972 | |||||
Exemptions and Taxable Value
Taxable value represents the assessed value less any tax exemptions that apply. Several exemptions are available in Lincoln County, which may lower the property's tax bill.
| Assessed value | $22,972 | ||||||
| Homestead exemption | - | $1,000 | |||||
| Taxable value | = | $21,972 | |||||
Property Tax
Base tax is calculated by multiplying the property's net assessed value by the total millage rates applicable to it and is an estimate of what an owner not benefiting from any exemptions would pay. The rates are expressed as millages (i.e the actual rates multiplied by 1000).
| Tax description | Assessed value | Millage rate | Tax amount | ||
|---|---|---|---|---|---|
| Chandler Rural | $22,972 | x | 89.4500 | = | $2,054.85 |
| Base tax | $22,972 | x | 89.4500 | = | $2,055 |
Current tax represents the amount the present owner pays including exemptions.
| Tax description | Taxable value | Millage rate | Tax amount | ||
|---|---|---|---|---|---|
| Current tax | $21,972 | x | 89.4500 | = | $1,965 |
Actual taxes might differ from the figures displayed here due to various abatement and financial assistance programs.
For more information please visit the web pages of Lincoln County's Assessor, Treasurer or look up property's current tax situation.
Frequently Asked Questions on Property Taxes
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