73051 Property Tax Rate

Property owners in ZIP code 73051 (Lexington, Oklahoma) pay a median of $1,093/year in property taxes on homes valued at $152,900. This translates to an effective tax rate of 0.71%, which is 8% above the Oklahoma state average of 0.66%.

The monthly property tax burden for a median-valued home in 73051 is approximately $91, which factors into escrow payments on mortgages. This ZIP code is located within Cleveland County.

Compared to similar ZIP codes in Oklahoma, 73051 has lower property taxes. ZIP codes with similar effective rates include 73096 (0.71%) and 73532 (0.72%).

In Lexington, property taxes represent approximately 1.7% of the median household income of $65,074, providing context for the relative tax burden on homeowners in this area.

Oklahoma assessments are not frozen at purchase price and do not reset on sale — the Cleveland County Assessor will appraise your property according to current market value and county policy. Cleveland County provides a Homestead Exemption and Senior Exemption programs; file applications with the Cleveland County Assessor's office to reduce your taxable base. Submit your exemption paperwork within 30 days of closing and request a property record review to ensure the assessed value matches similar homes in your area.