Tulsa area property taxes?? (Broken Arrow, Enid: comparable sales, for sale, real estate) - Oklahoma (OK) - City-Data Forum

augiedogie · 10-14-2011, 01:07 PM

My wife and I are seriously considering retiring to the Tulsa area. Keep in mind that I am on a budget, so I am considering all costs, and one of the things I noticed on homes listed for sale was the property tax bill. It looks pretty high, and I live in Texas now. So, my question is, What are the property taxes like? Is there any exemptions for owners over a certain age? (Texas has a nice large one for those over 65; cuts the property tax bill just about in half.)

Also, are there any other costs that are on the high side compared to other cities? Texas already has high home owners insurance premiums and high cooling bills. West Texas also has some very high water utility rates. Our water bills have gone up quite steeply lately. Any help is appreciated.

ERISAjunkie · 10-18-2011, 08:31 AM

Quote:

Originally Posted by Prairieparson

My wife and I are seriously considering retiring to the Tulsa area. Keep in mind that I am on a budget, so I am considering all costs, and one of the things I noticed on homes listed for sale was the property tax bill. It looks pretty high, and I live in Texas now. So, my question is, What are the property taxes like? Is there any exemptions for owners over a certain age? (Texas has a nice large one for those over 65; cuts the property tax bill just about in half.)

Also, are there any other costs that are on the high side compared to other cities? Texas already has high home owners insurance premiums and high cooling bills. West Texas also has some very high water utility rates. Our water bills have gone up quite steeply lately. Any help is appreciated.

I don't know how much help I can be but to start the ball rolling-

I know that you know that everything is relative. The Tulsa area, in general, has a higher cost of living than say, Enid or most others places in OK save the OKC area. Real estate taxes are about 1% of the market value of your home.

Compared to where I live now in Jersey, Tulsa is a relative bargain in the RE tax area. I'd share my RE bill with you but you'd have to have a strong heart not to mention a little intestitional fortitude as well. Are you ready? Sixteen thousand plus- largely for the privilege of providing an education for kids who already had everything given to them on a silver platter. Sorry- it gets to me sometimes.

Getting back to your question- a kilowatt of electric is about 8 to 9 cents a month. I don't know what it is in Texas. In NJ it's about .12 a kilowatt. I think water and home insurance would probably be about the same.

I hope some others chime in. In general, Tulsa and its suburbs have a great deal to offer in most income ranges. If you're retiring and don't need to be near the employment opportunities of Tulsa then maybe you should check out some secondary cities or rural towns. The cost of living might be lower and the pace of life and recreational activities are, perhaps, more to your liking. God bless you and your family as you make this move.

Okiegirlfriend · 10-18-2011, 07:03 PM

Clark Howard recently stated that many cities have over inflated the value of homes so they can collect higher property taxes. That is their main source of income. I was told home values have gone down twice this year. Will taxes go down too?
Received my monthly water bill today and found out that part of it is going to be 7% higher and another part is going up 9% on Nov. 1. I conserve water and I feel my current bill of $72 dollars is a little too high already!

swake · 10-19-2011, 10:05 AM

Quote:

Originally Posted by Okiegirlfriend

Clark Howard recently stated that many cities have over inflated the value of homes so they can collect higher property taxes. That is their main source of income. I was told home values have gone down twice this year. Will taxes go down too?
Received my monthly water bill today and found out that part of it is going to be 7% higher and another part is going up 9% on Nov. 1. I conserve water and I feel my current bill of $72 dollars is a little too high already!

Cities aren't supported by property taxes in Oklahoma and don't collect them anyway. Property tax valuations are done by the county assessor who is directly elected by the people.

flyingcat2k · 10-19-2011, 06:41 PM

The property taxes are usualy evaluated over a 3 or 5 year period so the hey-day year of 2007 will finally be dropped in 2012. Tulsa really didn't get much of a boom or bust on housing as a whole but individual areas are deflating right now largely because the buyers don't exist for homes over 460K (Jumbo Mortgages). There is usually a very exact formula for the tax calculations so unless you can prove through comparable sales for a given year (a good realtor will help), lowering taxes is difficult because they use the sales from that year to establish the taxable value of the property. Also, Oklahoma does have a homestead exemption that does help some.

Water bills tend to be driven higher because the water authority, who ever it is, was on a drive to conserve water. Now that people are using less water, the water authority does not have the income to maintain the system so they jack the rates. When they jack the rates, people conserve more water. It's a nasty cycle that is stupid beyond belief but that's our government. It happens in nearly every state so it isn't just in Oklahoma.

canutellme · 11-23-2011, 08:27 AM

In Tulsa area what is the cost of monthly utilities for a small 2 bedroom home... just curious

briansgi · 11-27-2011, 07:12 AM

Quote:

Originally Posted by Prairieparson

My wife and I are seriously considering retiring to the Tulsa area. Keep in mind that I am on a budget, so I am considering all costs, and one of the things I noticed on homes listed for sale was the property tax bill. It looks pretty high, and I live in Texas now. So, my question is, What are the property taxes like? Is there any exemptions for owners over a certain age? (Texas has a nice large one for those over 65; cuts the property tax bill just about in half.)

Also, are there any other costs that are on the high side compared to other cities? Texas already has high home owners insurance premiums and high cooling bills. West Texas also has some very high water utility rates. Our water bills have gone up quite steeply lately. Any help is appreciated.

You must not currently live in Dallas cause I know first hand the property taxes there are outrageous. My daughter owns a home in Oak Cliff and just her property taxes are a whopping $800 per MONTH!!!!!!!!!!!!!!!! Home was valued at around $300K so it's not a million dollar mansion. Tulsa and property taxes in general in Oklahoma are a fraction of that. Texas may not have state income tax but they more then make up for it if you own property!

Goodpasture · 11-27-2011, 09:28 AM

Quote:

Originally Posted by briansgi

..........they more then make up for it if you own property!

You do know that landlords pass their tax expense on to their tenants, right?

BAGuy · 11-29-2011, 12:11 PM

Broken Arrow has the lowest combined rates of any city in the metro (Water, Sewer, Trash, etc...). I believe the average monthly cost. On average, monthly costs for Water, Trash, Sewer, Stormwater would be approx. $85 in Broken Arrow (compared to Tulsa at $97, Owasso at $98, and as high as $112 in Sand Springs).

DogLover99 · 12-15-2011, 09:25 AM

And you don't HAVE to live in Tulsa or Tulsa County.

We're in Pawnee county and enjoy much lower insurance rates and property tax rates. We also 'enjoy' limited services (we have sheriff's not local PD, our fire department is volunteer, etc). But it IS Oklahoma and the roads suck everywhere and I"m not counting on a policeman to protect me or my family!