74055 Property Tax Rate

Property owners in ZIP code 74055 (Owasso, Oklahoma) pay a median of $2,330/year in property taxes on homes valued at $261,400. This translates to an effective tax rate of 0.89%, which is 35% above the Oklahoma state average of 0.66%.

The monthly property tax burden for a median-valued home in 74055 is approximately $194, which factors into escrow payments on mortgages. This ZIP code is located within Tulsa County. This is $1,338 more than the Oklahoma average of $992/year.

Compared to similar ZIP codes in Oklahoma, 74055 has higher property taxes. ZIP codes with similar effective rates include 74029 (0.89%) and 73014 (0.89%).

In Owasso, property taxes represent approximately 2.7% of the median household income of $86,897, providing context for the relative tax burden on homeowners in this area.

Oklahoma has no statewide property tax cap; your home will be assessed at purchase price and revalued annually by the Tulsa County Assessor. Homeowners 65+ and disabled residents can apply for a Homestead Exemption reducing assessed value — file your application with the Tulsa County Assessor's office to lower your annual tax bill on this higher-value property. Contact the Tulsa County Assessor within 30 days of closing to submit your exemption application and obtain your property assessment record; verify the exemption appears on your first tax bill.