74864 Property Tax Rate

Property owners in ZIP code 74864 (Prague, Oklahoma) pay a median of $902/year in property taxes on homes valued at $165,600. This translates to an effective tax rate of 0.54%, which is 18% below the Oklahoma state average of 0.66%.

The monthly property tax burden for a median-valued home in 74864 is approximately $75, which factors into escrow payments on mortgages. This ZIP code is located within Lincoln County.

Compared to similar ZIP codes in Oklahoma, 74864 has lower property taxes. ZIP codes with similar effective rates include 73063 (0.54%) and 73024 (0.55%).

In Prague, property taxes represent approximately 1.4% of the median household income of $64,313, providing context for the relative tax burden on homeowners in this area.

Oklahoma does not cap assessment increases at sale or for existing owners — your property will be reassessed to current market value when you purchase or during the county's periodic reappraisal. Lincoln County offers a Homestead Exemption available to owner-occupants of primary residences; apply with the Lincoln County Assessor to claim this exemption. Register your homestead exemption with the Lincoln County Assessor's office right after closing and request a written statement of the exemption value for your records.