73540 Property Tax Rate

Property owners in ZIP code 73540 (Faxon, Oklahoma) pay a median of $1,422/year in property taxes on homes valued at $196,500. This translates to an effective tax rate of 0.72%, which is 9% above the Oklahoma state average of 0.66%.

The monthly property tax burden for a median-valued home in 73540 is approximately $119, which factors into escrow payments on mortgages. This ZIP code is located within Comanche County. This is $430 more than the Oklahoma average of $992/year.

Compared to similar ZIP codes in Oklahoma, 73540 has lower property taxes. ZIP codes with similar effective rates include 73533 (0.72%) and 73855 (0.72%).

In Faxon, property taxes represent approximately 1.7% of the median household income of $84,375, providing context for the relative tax burden on homeowners in this area.

Comanche County assessments are not frozen at purchase and increase based on county appraisals — the Comanche County Assessor will value your property at fair market value. Apply for the Homestead Exemption or Senior Exemption with the Comanche County Assessor to reduce taxable value and claim available relief. File exemption paperwork within 30 days of closing and request a property assessment review if the valuation seems excessive.