Making the Most of Property Assessors Offices - Oklahoma

Determining the accuracy of your Oklahoma property assessment to save on taxes
By Michelle Cramer 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.

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.
Try:  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.
Try:  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.
Try:  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.

• 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.