Overview of Oklahoma Taxes
Property taxes in Oklahoma are relatively low, as the state has an average effective property tax of 0.87%. The median annual property tax paid by homeowners in Oklahoma is just $1,278, one of the lowest amounts in the U.S.
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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, 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.
Oklahoma Property Taxes
Property taxes in the Sooner State are among the lowest in both its region and relatively low across all 50 states in the U.S. The median annual property tax payment in Oklahoma is $1,278, which is the 10th-lowest amount of any state. Furthermore, that comes in as just over half the $2,578 national median.
One reason for these low taxes is that state laws do not allow assessed home values to increase by more than 3% from the previous year’s value.
A financial advisor in Oklahoma can help you understand how homeownership fits into your overall financial goals. Financial advisors can also help with investing and financial plans, including taxes, homeownership, retirement and more, to make sure you are preparing for the future.
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. Assessors are only required to visit each property physically once every four years. Annual increases in a property’s assessed value are capped at 3% for residential homestead and agricultural property. All other property has a cap of 5%. Senior homeowners may also qualify for the senior valuation freeze, which prevents home values from increasing.
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 in Tulsa County, where the assessment ratio is 11%. Your taxable value would be $11,000 minus $1,000 for the homestead exemption: $10,000 total. Your tax rate would apply to that amount.
Before officially becoming an Oklahoman, or if you’re already a resident and are 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. For a home with a taxable value of $10,000, a mill rate of 90 mills would mean taxes of $900.
Mill rates vary by locality, so it’s useful to compare property taxes by looking at a home’s effective tax rate. An effective property tax rate is the amount of property taxes paid annually as a percentage of home value. The table below shows median home values, median annual tax payments and average effective tax rates for every county in Oklahoma.
|County||Median Home Value||Median Annual Property Tax Payment||Average Effective Property Tax Rate|
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Oklahoma County is the most populous county in the state, and it contains the state capital, Oklahoma City. It has the third highest average effective tax rate of Oklahoma’s 77 counties, as it currently stands at 1.06%.
Oklahoma County levies a base millage rate of 11.45 mills. But taxes may be more burdensome if you're within the Oklahoma City School District. The school district levies 59.44 mills. Metro Technology Centers, the city’s public technical school, levies a tax of 21.03 mills.
If you have questions about how property taxes can affect your overall financial plans, a financial advisor in Oklahoma City can help you out.
Situated along the Arkansas River in northeast Oklahoma, Tulsa County has the second highest property tax rates in the state. The county’s average effective property tax rate of 1.13% is above both the state average of 0.87% and the national average of 1.07%.
In 2019, total mill rates in Tulsa County ranged from a low of about 61 mills to a high of about 132 mills. The total rate in the Tulsa School District was 132.39 mills. That means homeowners within the Tulsa School District pay $132.39 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 the highest property taxes in the state, with an effective rate of 1.16%. The median annual property tax paid by homeowners in Cleveland County is $1,854, which also ranks first in Oklahoma.
Comanche County, in southern Oklahoma, has the fifth highest effective property tax rate in the state. The average rate in Comanche County is 0.95%, compared to a state average of 0.87%. In 2019, total mill rates in the county ranged from about 73 mills Bishop to about 109 mills in Elgin.
The average effective property tax rate in Canadian County is 1.04%, fourth highest in the state. It has the third highest median home value in the state at $160,200. A home at this value would incur an annual property tax payment of $1,659.
Rogers County sits northeast of Tulsa and has a population of about 91,000. 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 mill rate was about 105 mills in 2020. By comparison, the mill rates in Tulsa range from roughly 91 to more than 132 mills, depending on the school district.
Located about 60 miles from both Tulsa and Oklahoma City, Payne County has property tax rates near the state average. The average effective rate in Payne is 0.93%. The median property tax payment for homeowners in Payne County is $1,425 annually, which is well below the $2,578 national mark.
Wagoner County stretches from Fort Gibson Lake west to Tulsa County. It is the eighth-largest Oklahoma County, with a population of about 78,000. Its average effective property tax rate is 0.89%, slightly higher than the state average.
The median home value in Muskogee County is $101,900 according to the U.S. Census Bureau. That is significantly lower than the rest of Oklahoma’s most populous counties, meaning annual property taxes paid here are too. The median annual property tax in Muskogee County is just $745.
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 0.79%. At that rate, the annual taxes on a home worth $100,000 would be $790.
Places Receiving the Most Value for Their Property Taxes
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 value for their property tax dollars. To do this, we looked at property taxes paid, school rankings and the change in property values over a five-year period.
First, 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.
As a way to measure the quality of schools, we analyzed the math and reading/language arts proficiencies for every school district in the country. We created an average score for each district by looking at the scores for every school in that district, weighting it to account for the number of students in each school. Within each state, we assigned every county a score between 1 and 10 (with 10 being the best) based on the average scores of the districts in each county.
Then, we calculated the change in property tax value in each county over a five-year period. Places where property values rose by the greatest amount indicated where consumers were motivated to buy homes, and a positive return on investment for homeowners in the community.
Finally, we calculated a property tax index, based on the criteria above. Counties with the highest scores were those where property tax dollars are going the furthest.