Broken Arrow, Tulsa County, Oklahoma Property Taxes
The median property tax rate in Broken Arrow, OK is 1.30%, considerably higher than both the national median of 0.99% and the Oklahoma state median of 0.97%. With the median home value in Broken Arrow at $182,408, the typical annual property tax bill reaches $2,285, which is below the national median of $2,690. Property taxes in Broken Arrow are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Broken Arrow's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Broken Arrow 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
Broken Arrow, Tulsa County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.3%
Estimate Property Tax Bill
$2,371
$2,201
Ownwell’s Broken Arrow Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Broken Arrow with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Broken Arrow 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 Broken Arrow, Tulsa County, Oklahoma
Property taxes in Broken Arrow, Oklahoma, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Broken Arrow is 1.11%, higher than both the Oklahoma state median of 0.87% and the U.S. national median of 0.99%. Local government entities within Broken Arrow set these rates annually, and they can vary significantly across different neighborhoods. Each year, Broken Arrow 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 Broken Arrow's effective property tax rate to other counties in Oklahoma and the national median. For comparison, the 74011 zip code has the highest median property tax rate of 1.34%, while the 74014 zip code has the lowest median tax rate of 1.22%. Understanding how these cities compare with Broken Arrow provides valuable insights into the varying tax landscape across Tulsa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Broken Arrow Tax Rate
1.30%
Average Tulsa County Tax Rate
1.31%
Average Oklahoma Tax Rate
0.97%
Average United States Tax Rate
0.99%
Property Tax Rates Across Broken Arrow, Tulsa County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74011 | 1.10% | 1.23% | 1.34% | 1.43% | 1.43% |
| 74012 | 1.05% | 1.17% | 1.27% | 1.36% | 1.43% |
| 74014 | 0.85% | 1.11% | 1.22% | 1.24% | 1.41% |
Source: Ownwell
Property Tax Assessment Values Across Broken Arrow, Tulsa County, Oklahoma
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Broken Arrow, Oklahoma. 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 Tulsa County Assessor 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. In Broken Arrow, 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. Being aware of these valuation processes in Broken Arrow helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill is $2,434 in the 74011 zip code, while the lowest median tax bill is $1,606 in the 74014 zip code.
Property Tax Assessment Values Across Broken Arrow, Tulsa County, Oklahoma
Source: Ownwell
$19,238
$162,439
$305,640
Average Broken Arrow Assessed Value
$182,408
Average Tulsa County Assessed Value
$152,469
Average Oklahoma Assessed Value
$137,280
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Broken Arrow, Tulsa County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74011 | $121,521 | $149,478 | $187,666 | $258,077 | $374,938 |
| 74012 | $107,962 | $138,620 | $179,727 | $231,420 | $284,500 |
| 74014 | $82,768 | $105,000 | $138,253 | $212,553 | $338,900 |
Source: Ownwell
Property Tax Bills Across Broken Arrow, Tulsa County, Oklahoma
Property tax bills in Broken Arrow, Tulsa County, OK, are calculated based on the assessed value of a property, which is determined by the county assessor. This assessed value is a percentage of the property's market value, which in Broken Arrow is influenced by factors such as location, size, and market conditions. Homeowners in Broken Arrow can expect their property tax bill to fall within a range, with the 25th percentile at $1,720 and the 75th percentile at $3,137. The highest median tax bill in the area is $2,434 in zip code 74011, while the lowest is $1,606 in zip code 74014. These taxes contribute to funding essential public services such as schools, infrastructure, and emergency services. While the median home price in Broken Arrow is $182,408, the property tax rate can significantly impact homeowners' annual expenses. Compared to the national median property tax rate of 0.99%, Broken Arrow's rates offer a varied landscape, influencing the overall cost of homeownership in the area.
Average Broken Arrow Tax Bill
$2,285
Average Tulsa County Tax Bill
$1,876
Average Oklahoma Tax Bill
$1,269
Average United States Tax Bill
$2,690
Property Tax Bills Across Broken Arrow, Tulsa County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 74011 | $1,465 | $1,832 | $2,434 | $3,529 | $5,273 |
| 74012 | $1,238 | $1,647 | $2,215 | $2,964 | $3,778 |
| 74014 | $752 | $1,200 | $1,606 | $2,970 | $4,213 |
Source: Ownwell