Overview of Oklahoma Taxes
Property taxes in Oklahoma are among the lowest in the region and the U.S. The median annual property tax paid by homeowners in Oklahoma is just $958, the seventh lowest amount of any U.S. state.
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To calculate the exact amount of property tax you will owe requires your property's assessed value and the property tax rates based on your property's address. Please note that we can only estimate your property tax based on median property taxes in your area. There are typically multiple rates in a given area, because your state, county, local schools and emergency responders each receive funding partly through these taxes. In our calculator, we take your home value and multiply that by your county's effective property tax rate. This is equal to the median property tax paid as a percentage of the median home value in your county.
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Jennifer Mansfield Tax
Jennifer Mansfield, CPA, JD/LLM-Tax, is a Certified Public Accountant with more than 30 years of experience providing tax advice. SmartAsset’s tax expert has a degree in Accounting and Business/Management from the University of Wyoming, as well as both a Masters in Tax Laws and a Juris Doctorate from Georgetown University Law Center. Jennifer has mostly worked in public accounting firms, including Ernst & Young and Deloitte. She is passionate about helping provide people and businesses with valuable accounting and tax advice to allow them to prosper financially. Jennifer lives in Arizona and was recently named to the Greater Tucson Leadership Program.
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Oklahoma Property Taxes
Property taxes in the Sooner State are among the lowest in the region and the U.S. The median annual property tax paid by homeowners in Oklahoma is just $958, the seventh lowest amount of any U.S. state, and less than half the national median. Homeowners in Oklahoma are also protected from large property tax hikes by a 2013 law which caps increases in tax valuation at 3% for owner-occupied, primary residences. Below, we will review that and other key property tax rules in Oklahoma.
How the Oklahoma Property Tax Works
The amount of property taxes homeowners in Oklahoma pay depends on the taxable value of their property and their total tax rate. Taxable value is based on, but not necessarily equal to, market value.
County assessors determine the market value of property in their jurisdictions through an annual assessment. Most assessments are not done in person but are based on recent sales of comparable properties. Annual increases in this assessed value are capped at 5% for all property, and 3% for residential homestead property.
The taxable value of a property is equal to the assessed value times the local assessment ratio (between 10% and 15%, depending on county), minus any exemptions. The most common exemption is the homestead exemption, which lowers taxable value by $1,000 on owner-occupied, primary residences. Other exemptions are available to veterans, seniors and disable persons.
So, for example, let’s say your assessed value is $100,000 and you live in a homestead residence TulsaCounty, where the assessment ratio is 11%. Your taxable value would be $11,000 minus $1,000 for the exemption: $10,000 total. Your tax rate would apply to that amount.
Before officially becoming an Oklahoman or if you’re already a resident looking to refinance, take a look at our Oklahoma mortgage guide to better understand mortgages in the Sooner State.
Oklahoma Tax Rates
Tax rates in Oklahoma are set by multiple tax authorities in every county and city, and then totaled for each district. Rates depend on budgetary needs, but increases are usually subject to voter approval. Rates are set as mills, with one mill equaling $1 in taxes per $1,000 in taxable value. In the above example, a mill rate of 90 mills would mean taxes of $900.
A home’s effective tax rate is the amount paid annually as a percentage of market value. Average effective tax rates are calculated as the median annual property tax payment in an area divided by the median home value. The below shows median home value, tax payment and average effective tax rates for every county in Oklahoma.
|County||Median Home Value||Median Annual Property Tax Payment||Average Effective Property Tax Rate|
Oklahoma County is the most populous county in the state, and contains Oklahoma City. It has the second highest average tax rate of Oklahoma’s 77 counties. The average effective property tax rate in Oklahoma County is 1.05%.
In the parts of Oklahoma City that are included in the Oklahoma City School District, the total mill rate for 2014 was 113.84 mills. More than half of that is levied by the school district, which has a rate of 59.36 mills. Metro Technology Centers, the city’s public technical school, levies a tax of 15.45 mills.
Situated along the Arkansas River in northeast Oklahoma, Tulsa County has the highest property tax rates in the state. The county’s average effective property tax rate is 1.09%, well above the state average (but still lower than the national average).
Total 2014 mill rates in Tulsa County ranged from a low of about 84 mills (in parts of the Keystone School District) to a high of 140 (in the Jenks School District, within the city of Tulsa). The total rate in the Tulsa School District was 133.22 mills. That means homeowners within the Tulsa School District pay$133.22 in tax for every $1,000 in taxable value. Taxable value is equal to 11% of assessed value in Tulsa County.
Cleveland County is a largely suburban and rural county located south of Oklahoma City. It contains the city of Norman, and the main campus of the University of Oklahoma. It also has some of the highest property taxes in the state.
The median annual property tax paid by homeowners in Cleveland County is $1,474, which ranks first in Oklahoma. However, home values in Cleveland County also lead the state. According to the U.S. Census Bureau, the median home value in Cleveland County is $141,300.
This southern Oklahoma county has property taxes that are slightly higher than the state average. The average effective property tax rate in Comanche County is 0.92%, compared to a state average of 0.85%.Total mill rates in the county range from 73 mills to 110 mills among the county’s 37 different districts.
The average effective property tax rate in Canadian County is 0.98%, fourth highest in the state. A home with a value of $150,000 would be taxed at $1,470 annually at that rate. That is about $100 less than the taxes paid on the same home if it faced the average rate in neighboring Oklahoma County.
Rogers County sits northeast of Tulsa, and has a population of about 87,000. It is part of the Tulsa Metropolitan region, but tax rates in Rogers County are significantly lower than those in Tulsa. For example, in the county seat of Claremore, the total 2014 mill rate was about 104 mills. The mill rate in Tulsa was 133 mills. (Both counties have an assessment ratio of 11%.)
Located about 60 miles from both Tulsa and Oklahoma City, Payne County has property tax rates near the state average. The median property tax for homeowners in Payne County is $1,087 annually. That is the seventh highest amount in the state, but is about half the national median.
Wagoner County stretches from Fort Gibson Lake west to Tulsa County. It is the eighth largest OklahomaCounty, with a population of about 75,000. Its average effective property tax rate is 0.85%, equal to the state average.
The median home value in Muskogee County is $92,200 according to the U.S. Census Bureau. That is significantly lower than the rest of Oklahoma’s most populous counties, as are the annual property taxes paid by Muskogee County homeowners. The median annual property tax in Muskogee County is just $669.
Creek County was established in 1907, at the same time Oklahoma gained statehood. It is located southwest of Tulsa, between Tulsa and Oklahoma City. The average effective property tax rate in Creek County is 0.73%. At that rate, the annual taxes on a home worth $100,000 would be $730.
Property Tax: Which Counties are Getting the Best Bang for Their Buck
SmartAsset’s interactive map highlights the places across the country where property tax dollars are being spent most effectively. Zoom between states and the national map to see the counties getting the biggest bang for their property tax buck.
Our study aims to find the places in the United States where people are getting the most for their property tax dollars. To do this we looked at school rankings, crime rates and property taxes for every county.
As a way to measure the quality of schools, we calculated the average math and reading/language arts proficiencies for all the school districts in the country. Within each state, these schools were then ranked between 1 and 10 (with 10 being the best) based on those average scores.
For each county, we calculated the violent and property crimes per 100,000 residents.
Using the school and crime numbers, we calculated a community score. This is the ratio of the school rank to the combined crime rate per 100,000 residents.
We used the number of households, median home value and average property tax rate to calculate a per capita property tax collected for each county.
Finally, we calculated a tax value by creating a ratio of the community score to the per capita property tax paid. This shows us the counties in the country where people are getting the most bang for their buck, or where their property tax dollars are going the furthest.
Sources: US Census Bureau 2016 American Community Survey, Department of Education, Federal Bureau of Investigation, State Police or Justice Department websites