Property Taxes in Oklahoma
Oklahoma's effective property tax rate is 0.77%, ranking #25 out of 50 states (1 = lowest). The median annual property tax paid is $1,360.
Oklahoma's property tax rates are below the national average, with the state assessing residential property at 11-13.5% of fair market value depending on the county. Local millage rates from school districts, cities, and counties are applied to this assessed value. Oklahoma's homestead exemption is particularly generous — it exempts $1,000 of assessed value from all taxes, which on a property assessed at 11% of market value provides meaningful relief. Additional exemptions are available for seniors with income below certain thresholds.
By BuyAHomeIn Editorial | Updated 2026-03-02 | Sources: Tax Foundation, U.S. Census
Tax Rate
0.77%
Median Annual Tax
$1,360
National Rank
#25 of 50
1 = lowest
Homestead Exemption
Yes
Annual Property Tax by Home Price
| Home Price | Annual Tax | Monthly |
|---|---|---|
| $200,000 | $1,540 | $128 |
| $300,000 | $2,310 | $193 |
| $400,000 | $3,080 | $257 |
| $500,000 | $3,850 | $321 |
| $750,000 | $5,775 | $481 |
* Based on the average effective rate of 0.77%. Actual rates vary by county and municipality.
Homestead Exemption in Oklahoma
Unlimited value, up to 1 acre in city
File for the homestead exemption after purchasing your primary residence in Oklahoma to reduce your assessed property value, lowering your annual tax bill. Contact your county assessor's office for the application.
How Oklahoma Compares
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