Milfay, Creek County, Oklahoma Property Taxes

Name: Property Tax Bills Across Milfay, Creek County, Oklahoma
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Milfay, OK effective property tax rate: 0.70%, significantly lower than the national median of 1.02%, but lower than the Oklahoma state median of 0.97%.
Median Milfay, OK home value: $88,002
Median annual Milfay, OK tax bill: $612, $1,788 lower than the national median property tax bill of $2,400.

How are property taxes in Creek County calculated?

Property taxes in Milfay, OK are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Milfay’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Milfay, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Milfay, Creek County, Oklahoma Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.7%

Estimate Property Tax Bill

$616

$572

Ownwell’s Milfay Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Milfay with just two data points. By entering your property's estimated assessed value, our calculator applies Milfay’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Creek County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Milfay, Creek County, Oklahoma

Local government entities set tax rates, which can vary widely within Oklahoma. Annually, each county, including Creek County, estimates its required budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, this is essentially the annual process. In Milfay, located in Creek County, the effective property tax rate reflects this calculation. Oklahoma's median property tax rate is 0.70%, which is significantly lower than the national median property tax rate of 1.02%. This means homeowners in Milfay benefit from relatively lower property tax rates compared to the national average. For context, the national median property tax bill is $2,400, which is often higher than what many Oklahomans pay. Comparing Milfay’s effective property tax rate to other cities in Oklahoma and the median property tax rates in the state and the U.S. can provide valuable insights for homeowners considering property tax implications.

Property Tax Rates Across Milfay, Creek County, Oklahoma

Source: Ownwell

0.67%

0.84%

1.01%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Milfay Tax Rate

0.70%

Median Effective Creek County Tax Rate

0.88%

Median Effective Oklahoma Tax Rate

0.97%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Milfay, Creek County, Oklahoma

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
74046	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Milfay, Creek County, Oklahoma

When examining property taxes in Milfay, Oklahoma, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Creek County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Creek County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Milfay.

For example, the median home price in Milfay is $88,002, with tax bills ranging significantly across the county. The 90th percentile tax bill reaches $1,525, which is below the national median property tax bill of $2,400.

Property Tax Assessment Values Across Milfay, Creek County, Oklahoma

Source: Ownwell

$61,707

$152,877

$244,046

Median Milfay Market Value

$88,002

Median Creek County Market Value

$130,263

Median Oklahoma Market Value

$137,280

Median United States Market Value

$235,294

Property Tax Assessment Values Across Milfay, Creek County, Oklahoma

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
74046	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Milfay, Creek County, Oklahoma

In Milfay, located in Creek County, OK, property tax bills are determined by assessing the property's market value and applying the local tax rate. The median home price in Milfay is $88,002, which is significantly lower than the national average. Homeowners in Milfay can expect property tax bills that vary widely; the 25th percentile tax bill is $278, while the 75th percentile reaches $1,058. The 90th percentile tax bill can climb to $1,525, indicating a range of tax burdens depending on property value and assessment accuracy.

Factors influencing tax bills include the property's assessed value and any applicable exemptions or deductions. These taxes fund essential local services, impacting homeowners' financial planning. Ownwell offers expertise in property tax appeals and exemptions, helping homeowners potentially lower their tax bills. By analyzing assessments and identifying discrepancies, Ownwell can assist in reducing the financial burden on homeowners, ensuring they only pay their fair share. This service is invaluable in a region where tax bills can vary significantly, providing peace of mind and potential savings.

Property Tax Bills Across Milfay, Creek County, Oklahoma

Source: Ownwell

$352

$1,269

$2,186

Median Milfay Tax Bill

$612

Median Creek County Tax Bill

$1,080

Median Oklahoma Tax Bill

$1,269

Median United States Tax Bill

$2,400

Property Tax Bills Across Milfay, Creek County, Oklahoma

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
74046	N/A	N/A	N/A	N/A	N/A

Source: Ownwell