Tyrone, Texas County, Oklahoma Property Taxes

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

Median Tyrone, 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 Tyrone, OK home value: $93,509
Median annual Tyrone, OK tax bill: $629, $1,771 lower than the national median property tax bill of $2,400.

How are property taxes in Texas County calculated?

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

Last Updated March 1, 2025

Tyrone, Texas 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

$655

$607

Ownwell’s Tyrone Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Tyrone with just two data points.

By entering your property's estimated assessed value, our calculator applies Tyrone’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 Texas County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Tyrone, Texas County, Oklahoma

Local government entities set tax rates, which can vary widely within a state. Annually, each county 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, in a nutshell, this is the annual process. Below, you can compare Tyrone’s effective property tax rate to other cities in Oklahoma and the median property tax rates in Oklahoma and the U.S. Tyrone, located in Texas County, stands out with a median property tax rate of 0.70%. This is significantly lower than the national median property tax rate of 1.02%, offering potential savings for property owners in the area. This lower rate can be a compelling factor for current and prospective homeowners, as it translates to lower annual tax bills compared to the national median property tax bill of $2400. Understanding these differences can be crucial for property owners looking to optimize their tax liabilities.

Property Tax Rates Across Tyrone, Texas County, Oklahoma

Source: Ownwell

0.42%

0.63%

0.84%

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 Tyrone Tax Rate

0.70%

Median Effective Texas County Tax Rate

0.69%

Median Effective Oklahoma Tax Rate

0.97%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Tyrone, Texas County, Oklahoma

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
73951	0.32%	0.50%	0.70%	0.91%	1.04%

Source: Ownwell

Property Tax Assessment Values Across Tyrone, Texas County, Oklahoma

When examining property taxes in Tyrone, 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 Texas 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. Assessment notices: In Texas 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 Tyrone. For example, the median home price in Tyrone is $93,509, with tax bills ranging significantly across the county. 73951 has the highest median home price at $93,509.

Property Tax Assessment Values Across Tyrone, Texas County, Oklahoma

Source: Ownwell

$69,960

$95,504

$121,048

Median Tyrone Market Value

$93,509

Median Texas County Market Value

$112,882

Median Oklahoma Market Value

$137,280

Median United States Market Value

$235,294

Property Tax Assessment Values Across Tyrone, Texas County, Oklahoma

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
73951	$37,031	$58,822	$93,509	$139,904	$196,481

Source: Ownwell

Property Tax Bills Across Tyrone, Texas County, Oklahoma

In Tyrone, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The median home price here is $93,509, and property tax rates are applied to this assessed value to calculate the tax bill. The tax bill can vary significantly, with the 25th percentile at $354 and the 75th percentile reaching $1,022. Homeowners in Tyrone face a median property tax bill that is considerably lower than the national median of $2,400. However, understanding the factors that influence property taxes, such as changes in home value or local tax rates, is crucial for homeowners. Ownwell assists by providing expert property tax appeal services, ensuring that homeowners are not overpaying. By analyzing property assessments and identifying discrepancies, Ownwell can help reduce tax liabilities, potentially saving homeowners hundreds of dollars annually. This service is invaluable for those looking to manage their expenses more effectively and ensure fair property taxation.

Property Tax Bills Across Tyrone, Texas County, Oklahoma

Source: Ownwell

$274

$539

$804

Median Tyrone Tax Bill

$629

Median Texas County Tax Bill

$698

Median Oklahoma Tax Bill

$1,269

Median United States Tax Bill

$2,400

Property Tax Bills Across Tyrone, Texas County, Oklahoma

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
73951	$199	$354	$629	$1,022	$1,438

Source: Ownwell