73848 Property Tax Rate

Property owners in ZIP code 73848 (Laverne, Oklahoma) pay a median of $595/year in property taxes on homes valued at $122,800. This translates to an effective tax rate of 0.48%, which is 27% below the Oklahoma state average of 0.66%.

The monthly property tax burden for a median-valued home in 73848 is approximately $50, which factors into escrow payments on mortgages. This ZIP code is located within Beaver County. This is $397 less than the Oklahoma average of $992/year.

Compared to similar ZIP codes in Oklahoma, 73848 has lower property taxes. ZIP codes with similar effective rates include 74957 (0.48%) and 74333 (0.48%).

In Laverne, property taxes represent approximately 1.0% of the median household income of $56,842, providing context for the relative tax burden on homeowners in this area.

Oklahoma has no statewide property tax cap; your home will be assessed at market value at sale and subject to annual revaluation by the Beaver County Assessor. Seniors 65+ and disabled homeowners qualify for a Homestead Exemption that reduces assessed value — apply with the Beaver County Assessor's office to claim this benefit and lower your annual taxes. Contact the Beaver County Assessor within 60 days of purchase to file your exemption application and request your property assessment record.