Luther, Oklahoma County, Oklahoma Property Taxes

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

Median Luther, OK effective property tax rate: 0.75%, significantly lower than the national median of 1.02%, but lower than the Oklahoma state median of 0.97%. Median Luther, OK home value: $160,500. Median annual Luther, OK tax bill: $1,067, $1,333 lower than the national median property tax bill of $2,400.

How are property taxes in Oklahoma County calculated?

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

Last Updated March 1, 2025

Luther, Oklahoma County, Oklahoma Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.75%

Estimate Property Tax Bill

$1,204

$1,117

Ownwell’s Luther Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Luther with just two data points. By entering your property's estimated assessed value, our calculator applies Luther’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 Oklahoma County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Luther, Oklahoma County, Oklahoma

Local government entities set tax rates, which can vary widely within a state. Each county annually estimates its required budget to provide 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 the annual process in a nutshell. In Luther, located in Oklahoma County, Oklahoma, the effective property tax rate is 0.75%, which is below the national median of 1.02%. This lower rate can be appealing for property owners looking for more affordable tax liabilities compared to other regions across the nation. Luther's tax rate is consistent with the highest and lowest rates within its ZIP code, indicating a uniform tax landscape in the area. For homeowners, this means more predictable property tax bills, potentially making it an attractive place for those seeking stability in their annual expenses. By understanding these rates, property owners can make informed decisions about purchasing or appealing their property taxes in Luther.

Property Tax Rates Across Luther, Oklahoma County, Oklahoma

Source: Ownwell

0.71%

1.09%

1.48%

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 Luther Tax Rate

0.75%

Median Effective Oklahoma County Tax Rate

1.00%

Median Effective Oklahoma Tax Rate

0.97%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Luther, Oklahoma County, Oklahoma

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
73054	0.43%	0.59%	0.75%	0.90%	1.00%

Source: Ownwell

Property Tax Assessment Values Across Luther, Oklahoma County, Oklahoma

When examining property taxes in Luther, 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 Oklahoma County Assessor 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 Oklahoma County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. 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 Luther. For example, the median home price in Luther is $160,500, with tax bills ranging significantly across the county. 73054 has the highest median home price at $160,500.

Property Tax Assessment Values Across Luther, Oklahoma County, Oklahoma

Source: Ownwell

$64,500

$428,500

$792,500

Median Luther Market Value

$160,500

Median Oklahoma County Market Value

$192,500

Median Oklahoma Market Value

$137,280

Median United States Market Value

$235,294

Property Tax Assessment Values Across Luther, Oklahoma County, Oklahoma

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
73054	$34,558	$65,499	$160,500	$286,250	$430,550

Source: Ownwell

Property Tax Bills Across Luther, Oklahoma County, Oklahoma

In Luther, located in Oklahoma County, property tax bills are calculated based on the assessed value of a home, which is often a fraction of its market value. The tax rate applied to this assessed value determines the final bill. Factors influencing the assessed value include market trends and property characteristics. The median home price in the area is $160,500, which helps provide context for tax calculations. Homeowners in Luther face a median property tax bill of $1,067, significantly lower than the national median of $2,400. However, tax bills can vary widely, with the 25th percentile at $441 and the 90th percentile reaching $3,352. This variation underscores the importance of accurate assessments. Ownwell assists homeowners by reviewing assessments to identify potential savings opportunities, ensuring they are not overpaying. By leveraging expertise in property tax appeals, Ownwell can help reduce tax liabilities, providing financial relief to homeowners and ensuring fair taxation aligned with property values.

Property Tax Bills Across Luther, Oklahoma County, Oklahoma

Source: Ownwell

$491

$5,835

$11,179

Median Luther Tax Bill

$1,067

Median Oklahoma County Tax Bill

$1,891

Median Oklahoma Tax Bill

$1,269

Median United States Tax Bill

$2,400

Property Tax Bills Across Luther, Oklahoma County, Oklahoma

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
73054	$207	$441	$1,067	$2,097	$3,352

Source: Ownwell