Oklahoma County Assessor
Tax Savings Measures

How are these savings calculated?
Tax savings are based upon 11% of Market Value multiplied by the (Tax Rate / 1,000) less the actual tax amount.

The value shown represents the amount of savings that the owner benefited for the previous tax year.  Without the tax savings measures in place the actual tax bill would have increased by this amount.

There may be several tax savings measures in place on this account. 
 These measures may include:

• Homestead Exemption

• Additional Homestead Exemption

• Senior Valuation Freeze

• Capped Account - 5% cap on assessments

• 100% Disabled Veterans Exemption (DAV)

All forms for these tax savings programs are available for downloading.  (Click here).  The Senior Valuation Freeze is available only during the time period of Jan. 1 - Mar. 15th of each year as based upon State law.

Are you purchasing this property?
If the property is sold or conveyed these measures may be removed therefore taxing the property at full Market Value for the following year without any adjustments/exemptions.  The new owner will be required to file for any exemptions such as those mentioned above and upon approval will then be applied to the account in the year in which they are approved.

Upon the change of ownership the account will establish a new 5% cap rate (see more information here) beginning with the full market value therefore limiting the property to a maximum taxable value increase up to but no more than 5% each taxable year.  The property may be increased more than 5% if additional improvements are added to the property such as an additional structure, driveway, building, pool, room etc.