73450 Property Tax Rate

Property owners in ZIP code 73450 (Milburn, Oklahoma) pay a median of $554/year in property taxes on homes valued at $124,200. This translates to an effective tax rate of 0.45%, which is 33% below the Oklahoma state average of 0.66%.

The monthly property tax burden for a median-valued home in 73450 is approximately $46, which factors into escrow payments on mortgages. This ZIP code is located within Johnston County. This is $438 less than the Oklahoma average of $992/year.

Compared to similar ZIP codes in Oklahoma, 73450 has higher property taxes. ZIP codes with similar effective rates include 73559 (0.45%) and 74964 (0.45%).

In Milburn, property taxes represent approximately 1.0% of the median household income of $54,338, providing context for the relative tax burden on homeowners in this area.

Johnston County assessments are not fixed at sale — the county assessor values property at fair market value and may increase assessments annually. Apply for the Homestead Exemption or Senior Exemption with the Johnston County Assessor to reduce taxable value. Submit exemption applications within 30 days of closing and request a property assessment review from the Johnston County Assessor if you believe the valuation is incorrect.