Example of Tulsa County Property Tax Calculation
To calculate the property tax in Tulsa County, the following steps are taken:
- Determine the assessed value of the property: This value is the amount at which the property is valued for tax purposes. For example, if the assessed value of a property is $100,000, that is the value on which the tax will be calculated.
- Find the millage rate: The millage rate is the amount of tax owed per $1,000 of assessed value. For example, if the millage rate is 20, the tax owed would be $20 for every $1,000 of assessed value.
- Calculate the tax owed: Multiply the assessed value of the property by the millage rate and divide by 1,000 to get the tax owed. For example, if the assessed value is $100,000 and the millage rate is 20, the tax owed would be $2,000 ($100,000 x 20 / 1,000).
It's important to note that property tax rates and assessments can vary based on location and other factors. It's always a good idea to consult with a local tax professional to ensure accurate calculations.
If you want appeal your property tax assessment - contact your local tax assessor.
Tulsa County Property Tax Rates
Here is a formatted table listing Tulsa County Property Tax rates in US dollars per 100$ of assessed value:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| Tulsa County | $0.8822 |
| Tulsa City | $1.1831 |
| Tulsa School | $1.1685 |
| Union School | $1.3375 |
| Jenks School | $1.2428 |
| Bixby School | $1.1329 |
| Berryhill School | $1.4164 |
| Collinsville School | $1.3220 |
| Glenpool School | $1.2639 |
| Liberty School | $1.4023 |
These rates are subject to change and should be verified with the appropriate taxing authority. As a tax advisor, it's important to stay up-to-date with any changes in local tax rates to accurately advise clients.
Who sets property tax rates in Tulsa County ?
Who sets property tax rates in Tulsa County?
The property tax rates in Tulsa County are set by multiple governing bodies. The following table summarizes the entities responsible for setting property tax rates in Tulsa County:
| Entity | Responsibility |
|---|---|
| Tulsa County Assessor | Determines the assessed value of each property in the county. |
| Tulsa County Board of Commissioners | Sets the general fund levy rate and approves the budget for Tulsa County. |
| Tulsa County Educational Facilities Authority | Sets the levy rate for school districts located within Tulsa county. |
| Tulsa Technology Center Board of Education | Sets the levy rate for Tulsa Technology Center school district. |
| Municipalities within Tulsa County | Set their own levy rates for their respective municipal services. |
When are the property tax rates set in Tulsa County?
The property tax rates in Tulsa County are set annually. The specific timeline for setting property tax rates varies slightly depending on the governing body, but generally follows this schedule:
- Tulsa County Assessor assesses the value of properties annually, typically during the first few months of the year.
- Tulsa County Board of Commissioners approves the budget for the upcoming fiscal year in June.
- Tulsa County Board of Commissioners sets the general fund levy rate in July.
- Tulsa County Educational Facilities Authority sets the school district levy rate in August or September.
- Tulsa Technology Center Board of Education sets the levy rate for the technology center in September or October.
- Municipalities set their respective levy rates throughout the year, typically between July and October.
Homestead exemptions in Tulsa County ?
To understand the Homestead exemptions and deductions available in Tulsa County, Oklahoma, one needs to know the table columns that contain all the necessary information. These columns will include exemption, eligibility, amount, and notes.
The Homestead exemptions and deductions vary depending on the county and state, and in Tulsa County, the following are the county-specific Homestead exemptions and deductions:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Standard Homestead Exemption | All homeowners | Up to $1,000 | The homeowner must have occupied the property on January 1 of the current year. |
| Senior Citizens Homestead Exemption | Homeowners 65 years and above | Up to $1,500 | The homeowner must have owned and occupied the property as their primary residence on January 1 of the current year. |
| Disabled Veterans Homestead Exemption | Veterans with 100% permanent disability resulting from service or surviving spouses | Up to $25,000 | The exemption applies to the primary residence of the veteran or surviving spouse. |
| Agricultural Land Exemption | Property owners using land for agricultural purposes | The full cash value of the land | The land must be in agricultural use and have been owned for at least 2 years. |
| Family Farm Homestead Exemption | Property owners using land for agricultural purposes | Up to $5,000 | The exemption applies to the primary residence of the property owner. |
It is important to note that the eligibility criteria and amount for each exemption and deduction may change from time to time. Homeowners are advised to consult with their local tax assessor's office to confirm the latest information.
When is Tulsa County Property Tax due ?
Tulsa County Property Tax is typically due on December 31st every year. However, if the 31st falls on a weekend or holiday, the due date is extended to the next business day.
There are several methods for making payments for Tulsa County Property Tax, including:
- Online: Payments can be made online through the Tulsa County Treasurer's website using an electronic check or credit/debit card.
- Mail: Payments can also be mailed to the Tulsa County Treasurer's Office with a check or money order.
- In-person: Payments can be made in-person at the Tulsa County Treasurer's Office with cash, check, or credit/debit card.
It's important to note that failing to pay property tax on time can result in penalties and interest charges. Therefore, it's recommended to make payments as early as possible to avoid any issues.
If you have more questions - contact your local tax collector.
How is Tulsa County Property Tax penalty calculated ?
Tulsa County Property Tax Penalty Calculation
In Tulsa County, property taxes are due on December 31st of each year. If a property owner fails to pay their property taxes by this deadline, they may be subject to penalties and interest. The penalty for late payment is calculated based on the outstanding balance of the property taxes owed.
The formula for calculating the penalty is as follows:
(Outstanding Tax Balance) x (0.01) x (Number of Months Late)
For example, if a property owner owes $10,000 in property taxes and fails to pay by the deadline, the penalty would be calculated as follows:
$10,000 x 0.01 x 1 month = $100
If the property owner is still late on their payment the following month, the penalty would increase to $200. This process would continue each month until the taxes are paid in full.
In addition to the penalty, interest is also charged on the outstanding balance at a rate of 1.5% per month.
It is important for property owners in Tulsa County to pay their property taxes on time to avoid penalties and interest. If you have any questions about your property taxes, it is recommended to contact the Tulsa County Treasurer's office for assistance.
We recommend contacting the Tulsa County Tax Office or a local tax professional for the most up-to-date and accurate information.