Milburn, Johnston County, Oklahoma Property Taxes
Median Milburn, OK effective property tax rate: 0.65%, significantly lower than the national median of 1.02%, but lower than the Oklahoma state median of 0.97%. Median Milburn, OK home value: $100,787. Median annual Milburn, OK tax bill: $561, $1,839 lower than the national median property tax bill of $2,400.
How are property taxes in Johnston County calculated? Property taxes in Milburn, 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 Milburn’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Milburn, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Milburn, Johnston County, Oklahoma Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.65%
Estimate Property Tax Bill
$655
$608
Property Tax Rates Across Milburn, Johnston County, Oklahoma
Local government entities determine tax rates, which can differ significantly within a state. Each year, counties estimate their required budget to maintain services and divide that by the total value of all taxable property within their area. This calculation establishes the property tax rate. Although voting and legislation play roles in setting these rates and budgets, this is essentially the annual procedure.
In Milburn, located in Johnston County, Oklahoma, the effective property tax rate is 0.65%. This rate is notably lower than the national median property tax rate of 1.02%. Oklahoma as a whole tends to have lower property tax rates compared to the national average, making it an attractive state for property owners seeking lower tax liabilities.
By comparing Milburn’s effective property tax rate to other cities in Oklahoma and the median rates in the state and across the U.S., property owners can better understand their potential tax obligations. This comparison can be particularly useful for those considering investment in the area or evaluating the financial implications of property ownership in Milburn.
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 Milburn Tax Rate
0.65%
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 Johnston County Tax Rate
0.70%
Median Effective Oklahoma Tax Rate
0.97%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Milburn, Johnston County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73450 | 0.31% | 0.45% | 0.65% | 0.80% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Milburn, Johnston County, Oklahoma
When examining property taxes in Milburn, 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 Johnston County Appraisal District 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 Johnston County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Milburn.
For example, the median home price in Milburn is $100,787, with tax bills ranging significantly across the county. Zip code 73450 has the highest median home price at $100,787.
Property Tax Assessment Values Across Milburn, Johnston County, Oklahoma
Source: Ownwell
$41,274
$82,711
$124,147
Median Milburn Market Value
$100,787
Median Johnston County Market Value
$84,611
Median Oklahoma Market Value
$137,280
Median United States Market Value
$235,294
Property Tax Assessment Values Across Milburn, Johnston County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73450 | $31,085 | $55,661 | $100,787 | $171,968 | $255,674 |
Source: Ownwell
Property Tax Bills Across Milburn, Johnston County, Oklahoma
In Milburn, property tax bills are determined by the assessed value of a home, which is calculated as a percentage of its market value. Homeowners in Johnston County typically see a median tax bill of $561, significantly lower than the national median of $2,400. Factors influencing the tax bill include the property's assessed value and the local tax rate. The tax bill can vary widely, with the 25th percentile at $296 and the 90th percentile reaching $1,760, highlighting the potential for substantial savings.
For homeowners, understanding these factors is crucial as they directly impact annual expenses. Fortunately, Ownwell offers expert property tax appeal and exemption services to help homeowners in Milburn potentially reduce their tax burden. By analyzing the assessed value and ensuring it's in line with the market, Ownwell can identify discrepancies and file appeals on behalf of homeowners. This service not only promises potential savings but also ensures homeowners pay only their fair share, relieving the financial pressure of high property taxes.
Median Milburn Tax Bill
$561
Median Johnston County Tax Bill
$521
Median Oklahoma Tax Bill
$1,269
Median United States Tax Bill
$2,400
Property Tax Bills Across Milburn, Johnston County, Oklahoma
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 73450 | $164 | $296 | $561 | $1,007 | $1,760 |
Source: Ownwell