Oklahoma City, Oklahoma Property Taxes
The median property tax rate in Oklahoma City, OK is 0.83%, which is lower than both the national median of 0.99% and the Oklahoma state median of 0.97%. With a median home value of $114,107 in Oklahoma City, the typical annual property tax bill amounts to $793, significantly less than the national median of $2,690. Property taxes in Oklahoma City are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, including those for primary residences and agricultural properties. Understanding Oklahoma City's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Oklahoma City or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Oklahoma City, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$947
Ownwell’s Oklahoma City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oklahoma City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oklahoma City to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Oklahoma City, Oklahoma
Property taxes in Oklahoma City, OK, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oklahoma City is 0.83%, lower than the U.S. national median of 0.99%. Local government entities within Oklahoma City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oklahoma City estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Oklahoma City's effective property tax rate to other areas in McIntosh County and the national median. For comparison, the 73106 zip code has the highest median property tax rate of 0.94%, while the 73130 zip code has the lowest median tax rate of 0.51%. Understanding how these areas compare with Oklahoma City provides valuable insights into the varying tax landscape across McIntosh County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Oklahoma City Tax Rate
0.83%
Average Mcintosh County Tax Rate
0.79%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oklahoma City, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73106 | 0.94% | 0.94% | 0.94% | 0.94% | 0.94% |
| 73108 | 0.86% | 0.86% | 0.86% | 0.86% | 0.86% |
| 73110 | 0.77% | 0.77% | 0.77% | 0.77% | 0.77% |
| 73119 | 0.62% | 0.64% | 0.66% | 0.68% | 0.71% |
| 73120 | 0.90% | 0.91% | 0.91% | 0.93% | 0.93% |
| 73121 | 0.72% | 0.72% | 0.72% | 0.72% | 0.72% |
| 73129 | 0.69% | 0.69% | 0.69% | 0.69% | 0.69% |
| 73130 | 0.51% | 0.51% | 0.51% | 0.51% | 0.51% |
| 73131 | 0.87% | 0.87% | 0.87% | 0.87% | 0.87% |
| 73142 | 0.57% | 0.70% | 0.91% | 0.92% | 0.93% |
| 73149 | 0.94% | 0.94% | 0.94% | 0.94% | 0.94% |
| 73150 | 0.51% | 0.54% | 0.58% | 0.76% | 0.87% |
| 73151 | 0.94% | 0.94% | 0.94% | 0.94% | 0.94% |
| 73159 | 0.63% | 0.66% | 0.72% | 0.77% | 0.81% |
| 73165 | 0.66% | 0.81% | 0.89% | 0.90% | 0.91% |
| 73170 | 0.76% | 0.80% | 0.81% | 0.83% | 0.86% |
| 73179 | 0.92% | 0.92% | 0.92% | 0.92% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Oklahoma City, Oklahoma
In Oklahoma City, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the McIntosh County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. Assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. For instance, the highest median tax bill in Oklahoma City is $1,781 in the 73131 zip code, while the lowest is $128 in the 73119 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Oklahoma City Assessed Value
$114,107
Average Mcintosh County Assessed Value
$81,769
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Oklahoma City, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73106 | $93,599 | $97,357 | $103,621 | $109,885 | $113,643 |
| 73108 | $81,174 | $81,174 | $81,174 | $81,174 | $81,174 |
| 73110 | $96,815 | $96,815 | $96,815 | $96,815 | $96,815 |
| 73119 | $16,971 | $17,238 | $18,774 | $34,302 | $59,753 |
| 73120 | $83,584 | $93,132 | $109,047 | $137,384 | $154,386 |
| 73121 | $182,906 | $182,906 | $182,906 | $182,906 | $182,906 |
| 73129 | $115,449 | $115,449 | $115,449 | $115,449 | $115,449 |
| 73130 | $17,532 | $17,532 | $17,532 | $17,532 | $17,532 |
| 73131 | $204,125 | $204,125 | $204,125 | $204,125 | $204,125 |
| 73142 | $81,402 | $98,475 | $126,930 | $198,913 | $242,103 |
| 73149 | $81,354 | $81,354 | $81,354 | $81,354 | $81,354 |
| 73150 | $35,924 | $41,138 | $49,830 | $83,676 | $103,984 |
| 73151 | $126,685 | $126,685 | $126,685 | $126,685 | $126,685 |
| 73159 | $92,625 | $99,054 | $109,767 | $120,480 | $126,909 |
| 73165 | $141,659 | $143,811 | $150,842 | $196,166 | $267,244 |
| 73170 | $45,629 | $64,024 | $137,043 | $142,683 | $153,226 |
| 73179 | $114,107 | $114,107 | $114,107 | $114,107 | $114,107 |
Source: Ownwell
Property Tax Bills Across Oklahoma City, Oklahoma
Property tax bills in Oklahoma City, located in McIntosh County, are determined by assessing the market value of a property and applying the local tax rate to this assessed value. The median home price in Oklahoma City is $114,107. Homeowners in this area experience varying tax bills based on their property values, with the 25th percentile tax bill at $594 and the 75th percentile tax bill reaching $1,220. The 90th percentile tax bill can go up to $1,370, showing a significant range depending on the property's assessed value and location within the city. Factors influencing the tax bill include the property's market value, local tax rates, and any applicable exemptions. For instance, the highest median tax bill in the city is $1,781 in the 73131 zip code, while the lowest is just $128 in the 73119 zip code. Compared to the national median property tax rate of 0.99%, Oklahoma City's rates can be seen as relatively moderate, affecting homeowners' annual expenses and overall financial planning.
Average Oklahoma City Tax Bill
$793
Average Mcintosh County Tax Bill
$586
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Oklahoma City, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73106 | $876 | $911 | $970 | $1,028 | $1,064 |
| 73108 | $699 | $699 | $699 | $699 | $699 |
| 73110 | $744 | $744 | $744 | $744 | $744 |
| 73119 | $108 | $120 | $128 | $226 | $397 |
| 73120 | $761 | $858 | $1,020 | $1,268 | $1,417 |
| 73121 | $1,324 | $1,324 | $1,324 | $1,324 | $1,324 |
| 73129 | $793 | $793 | $793 | $793 | $793 |
| 73130 | $90 | $90 | $90 | $90 | $90 |
| 73131 | $1,781 | $1,781 | $1,781 | $1,781 | $1,781 |
| 73142 | $755 | $905 | $1,155 | $1,238 | $1,289 |
| 73149 | $761 | $761 | $761 | $761 | $761 |
| 73150 | $258 | $276 | $304 | $494 | $608 |
| 73151 | $1,185 | $1,185 | $1,185 | $1,185 | $1,185 |
| 73159 | $740 | $748 | $763 | $778 | $786 |
| 73165 | $940 | $1,142 | $1,328 | $1,770 | $2,434 |
| 73170 | $373 | $533 | $999 | $1,258 | $1,282 |
| 73179 | $1,054 | $1,054 | $1,054 | $1,054 | $1,054 |
Source: Ownwell