{"id":53353,"date":"2020-08-26T09:49:57","date_gmt":"2020-08-26T14:49:57","guid":{"rendered":"https:\/\/resource-center.hrblock.com\/?p=53353"},"modified":"2021-01-13T20:35:55","modified_gmt":"2021-01-14T02:35:55","slug":"oklahoma-property-taxes","status":"publish","type":"post","link":"https:\/\/hrbcomlnp.hrblock.com\/tax-center\/filing\/states\/oklahoma-property-taxes\/","title":{"rendered":"Oklahoma Property Taxes"},"content":{"rendered":"

Editor\u2019s Note:<\/em><\/strong> In this post, we\u2019ll cover all things Oklahoma property taxes, including who owes, how to pay, how much to pay, and when to pay!<\/em><\/p>\n

How Do Oklahoma Property Taxes Work?<\/h2>\n

\"propertyIn Oklahoma (OK), property taxes are based on the value of your property. Unlike other types of state taxes like sales or income tax, property taxes are administered at a local level.<\/p>\n

This means, your county officials will value your property, set your tax rates, and collect taxes. (The Oklahoma Constitution is the overall authorizing body for OK property tax.)<\/p>\n

Here is additional information from the state of Oklahoma<\/a>:<\/p>\n

\u201cThe county assessor uses mass appraisal to appraise large numbers of properties. In a mass appraisal, the assessor first collects detailed descriptions of each taxable property in the district. Then property is classified according to a variety of factors, such as size, quality, use, and construction type. Using data from recent property sales, the assessor appraises the value of typical properties in each class. Taking into account differences such as age or location, the assessor uses the typical property values to appraise all the properties in the class. <\/em><\/p>\n

For individual properties, the assessor may use three common methods to value property: market, income and cost approach. The market approach is most often used and simply asks, \u201cWhat are properties similar to this property selling for?\u201d The value of your home is an estimate of the price your home would sell for. The assessor compares your home to similar homes that have sold recently and determines your home\u2019s value.\u201d<\/em><\/p><\/blockquote>\n

What Type of Property Does Oklahoma Tax?<\/h2>\n

Similar to many other states, Oklahoma requires property owners to distinguish between real property, land and buildings, and personal property when reporting property owned to your county assessor\u2019s office. Oklahoma taxes property used for the purposes of:<\/p>\n