Oklahoma

Oklahoma has an effective property tax rate of 0.85%, with a median annual property tax of $1,591. Properties are assessed at 11.0% of market value and reassessed every 4 years (quadrennial reassessment; annual equalization). Payments are due semi-annual.

Effective Rate

0.85%

Assessment Ratio

11.0%

Median Annual Tax

$1,591

Payment Frequency

Semi-Annual

Appeal Deadline

By the fourth Monday in April to County Board of Equalization (or within 30 days of notice of increase)

Due Dates

Full payment due December 31; or first half due December 31, second half due March 31

Reassessment Cycle

Every 4 years (quadrennial reassessment; annual equalization)

Homestead Exception

First $1,000 of assessed value ($9,091 market value at 11% ratio) exempt. Additional double homestead exemption for gross household income under $20,000. Unlimited equity protection in bankruptcy.

Key Notes

Assessment ratio is 11% for residential (13.75% for most counties). Cap of 5% on annual fair market value increases for homesteads. Low assessment ratio keeps bills manageable. Ad valorem cap limits mill levy increases.

Late Penalty

1.5% per month (18% annually) penalty on delinquent taxes; property subject to tax sale after 3 years delinquency

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