74369 Property Tax Rate

Property owners in ZIP code 74369 (Welch, Oklahoma) pay a median of $627/year in property taxes on homes valued at $137,000. This translates to an effective tax rate of 0.46%, which is 31% below the Oklahoma state average of 0.66%.

The monthly property tax burden for a median-valued home in 74369 is approximately $52, which factors into escrow payments on mortgages. This ZIP code is located within Craig County. This is $365 less than the Oklahoma average of $992/year.

Compared to similar ZIP codes in Oklahoma, 74369 has higher property taxes. ZIP codes with similar effective rates include 73661 (0.46%) and 74462 (0.46%).

In Welch, property taxes represent approximately 1.1% of the median household income of $56,012, providing context for the relative tax burden on homeowners in this area.

Oklahoma does not cap assessment increases at sale or for existing owners — your property will be reassessed to fair market value upon sale or during Craig County's periodic reappraisal cycle. Craig County offers a Homestead Exemption for primary residences that reduces taxable value; submit your application to the Craig County Assessor. Contact the Craig County Assessor's office immediately after purchase to file your homestead exemption and obtain written confirmation of the exemption amount.