Oklahoma county assessors, among many other tasks, are responsible for assessing the fair market value of a property and thus determining how much you pay in property taxes each year. The school district, city and county associated with the location of a property determine the tax rates you pay, which are established percentages of your property’s assessed value.

As a real estate investor, the accuracy of your property assessments is essential to saving money on the taxes you pay. While often rare, there are occasions when the assessed value of a property is considerably inaccurate, resulting in under payment or over payment of property taxes. If you feel that there may be a discrepancy in the numbers, then you are making the most of property assessors offices - Oklahoma by doing the following:

1. Check the value determined by your Oklahoma property assessor for other properties in your area.

2. Consult with a professional appraiser and compare his conclusion to that from the Oklahoma property assessors’ office.

3. File an appeal of your Oklahoma property values if you still find an error.

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Compare your Oklahoma property records to others in the area

If you feel that the value of your property determined by your assessors office in Oklahoma is way off, compare it to the values of other properties in the area. Talk to neighbors with similar properties, obtain a break down of neighborhood assessments or ask a real estate agent about the prices of resembling properties.

I recommend: Enter your property’s address in the value estimate comparison provided by American Financing and receive the estimated value of 25 surrounding properties. The RE/MAX Neighborhood Valuation tool provides similar results.

Hire an appraiser to compare the OK assessor results

Oklahoma assessors do mass appraisals for the entire county, resulting in high, low and average assessments. If you paid $100,000 for a property and the assessed value is $98,000 -- a difference of a few thousand -- then the inaccuracy is not enough to worry about. However, if there is a significant difference, hire a professional appraiser to provide you with an assessed value of the home, broken down and explained in writing, to document the significant inaccuracy. This proof may be necessary if you file an appeal.

I recommend: Request a property appraisal from Moulis Appraisal Services. To find contact information for an appraiser in your particular Oklahoma county or city, go to AppraiserUSA.com.

Dispute Oklahoma property tax records by filing an appeal

If, after confirming the assessed value of your property, you find that your Oklahoma assessor office was, in fact, incorrect in their assessment, you can file an appeal. The process may vary for each Oklahoma county, but generally you must file a written appeal within 20 days of the date on the valuation you receive. If the assessor's office denies your appeal, you can protest with the County Board of Equalization, which will hold a hearing and need evidence to make a decision.

I recommend: To appeal directly to the state tax board, you must file Form OTC #974. Obtain this form through your local assessor’s office or by contacting the property tax division of the Oklahoma Tax Commission. Contact the Oklahoma State Board of Equalization to obtain contact information for county offices.

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Helpful advice for making the most of this Guide

• •  The information available through property assessors in Oklahoma can also help you to make smarter real estate investment decisions by comparing values and sales prices of similar properties.

Oklahoma property assessors estimate the value of property in order to determine the taxes due. To do their jobs, Oklahoma assessors maintain records of real estate sales and property improvements. They regularly inspect and take pictures of property in order to keep their records up-to-date.

Oklahoma property records are public records. You not only can view the records for your own property but any piece of property you're interested in. Keep in mind that online records are considered "as is"; the official records are the documents filed with the county. People do public searches of property records for a variety of reasons:

1. To determine if an assessment is fair and reasonable by comparing it to the assessments made by the Oklahoma assessor on similar, nearby properties.

2. To find out who owns a piece of property according to the Oklahoma county assessor's records.

3. To determine market value of a property by comparing sales data of comparable properties.

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Take advantage of Oklahoma county assessors who maintain online databases

Only a handful of the 77 counties in Oklahoma maintain online, searchable property records for the public. Luckily, the Oklahoma county assessors for some of the most populous counties have put their records online.

I recommend: The following counties offer easy-to-use, free, public searches of Oklahoma property assessment records: Oklahoma, Cleveland, Carter, Garfield, Kay and Rogers.

Subscribe to an online service to access Oklahoma property records

If you do a lot of property research, you may want to subscribe to a service that gives you access to Oklahoma property assessment records not otherwise available online.

I recommend: OKAssessor.com offers a service called Appraisal Assistant that allows you to search detailed property records. They also offer phone numbers and addresses for some Oklahoma property assessors. SearchSystems.net offers a similar program called DirectPass. To search Tulsa County records, you can pay a monthly fee to access their Land Records Management Information System with Images.

Find Oklahoma property values through independent websites

A number of websites gather property information from sales data and public records. Some are free and others require a small fee to access the records.

I recommend: To find information on commercial property, use LoopNet. You'll have to register for a free account before you start searching. Purchase detailed reports from Intelius Property Check.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  If you have a question about a property, don't hesitate to call the assessor's office. Property assessors in Oklahoma, especially those without an online database, are prepared to answer your questions over the phone.

Oklahoma assessors are public officials, voted into office, that maintain lists and information for each piece of personal property and real property within their county. When it comes to real property, which includes homes and businesses, the information that an Oklahoma county assessor maintains includes property descriptions, sale prices and values.

Each year the Oklahoma property assessors offices determine the fair market value of each piece of real property within the county. Then, the owner of that property pays taxes based upon the assessed value determined by the property assessors offices. Understanding property assessors offices - Oklahoma basics will help you gather valuable information on real property in the state.

1. Conduct a search of Oklahoma property records through online search functions.

2. Have a clear understanding of the regulations Oklahoma property assessors must adhere to for accuracy in value assessments.

3. Use the information available through property assessors in Oklahoma to make smart investment decisions.

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Access Oklahoma property records

Many Oklahoma county assessor websites have search functions that allow the public to access information about real and personal property within that county. While some counties may not have this online capability as of yet, you can still access many records by visiting your county assessor's office in person. Typically, you can search by the owner's name, the property address or the account number.

I recommend: The Kay County Assessor charges a $10 monthly fee for access to its records online. A number of other Oklahoma county property assessor websites, such as the Rogers County Assessor, provide similar free records search functions.

Review the regulations governing taxes through Oklahoma property assessment

An Oklahoma property assessor determines how much the owner will pay in property tax each year based upon a number of factors, including the assessed value of that property and what school district it is located in. The Oklahoma Constitution sets limitations and regulations to tax amounts, such as a limit of 5 percent in tax increases per year. However, each individual county, city and school district determines tax rates through the vote of the people within that location and property values from the previous year. These taxes are the main source of funds for local government and schools.

I recommend: The Oklahoma County Assessor provides a tax rate chart for residents of the county to determine their local tax rate. Visit the Payne County Assessor Q&A page for a detailed explanation of the 5 percent limitation factor.

Gather information from Oklahoma county assessors to help with investments

While the main purpose of the information the assessor maintains is to collect taxes, you can use that information to your advantage in real estate investments. You can compare the market value, assessed value and sale price of the properties located within the same neighborhood. This allows you to set the appropriate prices for property sales and make sure you're getting a fair deal on investments.

I recommend: Search records through the Carter County Assessor by subdivision to pull up results near your property of interest. Obtain and compare sales prices and values for multiple Oklahoma counties at once on sites like SearchSystems.net.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  If you believe that your county assessor determined the wrong Oklahoma land value for your property, you may want to appeal the assessment. Contact your local assessor's office for details on the appeals process.

Property assessments determine how much property owners, whether on a personal or business level, owe in property taxes each year. Assessments determine the value of a specific property and then determine a tax amount based upon a formulated tax rate system. Property assessor's offices are responsible for assessing property values and determining these tax rates.

Whether you want to work for the Oklahoma assessor's office or simply want to better understand the assessment process for personal or business applications, there are a few key terms you should know.

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Market value

Market value is the amount a willing buyer would pay for a given property. Assessor's offices determine fair market value of a property by compiling several factors, including what similar properties sell for, property amenities, property size and condition.

I recommend: Creative Real Estate Online provides an explanation of market value for single family residences. The Oklahoma County Assessor Residential Appraisal Department provides a definition and explanation of the analysis of market value.

Assessment

Assessment is the valuation of a property based upon fair market value for that property. An Oklahoma assessor's office conducts property assessments once a year on residential and commercial properties in order to determine property taxes for that year.

I recommend: The Kay County Assessor provides more information about the assessment process in Oklahoma.

Property tax

Property tax is a tax that Oklahoma counties place on residential and commercial real property (and sometimes personal property) in order to obtain revenue for local municipalities, typically paid on an annual basis.

I recommend: Refer to Wisegeek for more information on property tax. The BankRate website offers more details on Oklahoma state taxes, including property tax.

Ad valorem

Ad valorem is Latin for 'according to value.' The Ad Valorem division of Oklahoma tax assessment makes sure that property taxes are based upon state and local laws.

I recommend: The Oklahoma Tax Commission provides more information on the Ad Valorem division. Discover ad valorem tax exceptions from the Carter County Assessor's Office.

Oklahoma Tax Commission (OTC)

The purpose of the Oklahoma Tax Commission (OTC) is to promote tax compliance through fair collection and administration of taxes. The OTC is also responsible for distributing and apportioning revenue to state and local municipalities.

I recommend: Discover more about the structure of the Oklahoma Tax Commission.

Board of Equalization (BOE)

The Oklahoma State Board of Equalization adjusts and equalizes the value of personal and real property. As time passes, the gaps between the values for real property in comparison to other properties, such as personal property, increase. The state BOE brings those values back into alignment.

I recommend: Visit the Oklahoma State Board of Equalization website for more information.