Oklahoma (OK) property tax rate: 0.9% | Median home: $215,000 | Median annual tax: $1,935
Oklahoma is one of the most affordable states in the South Central region. The average effective property tax rate in Oklahoma is 0.9%, which is near the national average of 1.1%.
On the median Oklahoma home valued at $215,000, annual property taxes come to approximately $1,935 or $161/month. This is a significant part of your total housing cost and should be factored into any home purchase budget.
Pro tip: Oklahoma limits annual assessment increases to 5% for homestead properties.
Combined with Oklahoma's state income tax rate of 4.75%, homeowners should consider the total tax picture. Property taxes in Oklahoma are manageable and in line with regional averages.
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Oklahoma has an average effective property tax rate of 0.9%. On the median home value of $215,000, that equals approximately $1,935 per year or $161 per month.
Property taxes in Oklahoma are calculated by multiplying your home assessed value by the local tax rate. The assessed value may differ from market value depending on your county assessment ratio. Exemptions like homestead exemptions can reduce your taxable value.
Oklahoma limits annual assessment increases to 5% for homestead properties.
Oklahoma property taxes are near the national average of 1.1%. This means property tax costs are predictable and in line with most states.
Property tax due dates vary by county in Oklahoma. Most counties offer semi-annual payments. Check with your county tax assessor office for specific due dates. Late payments typically incur penalties of 1-2% per month.