Below you will find some helpful information that I obtained directly from the Tulsa County Assessor’s website. Pay close attention to the definitions of market value, taxable value, and assessment value. These will be helpful to you. For more information from them, visit their website at;
http://www.assessor.tulsacounty.org/index.htm
How do I file a protest?
You may call our office at (918) 596-5166 to request a protest form be mailed to you or you can come into our office to fill out the form. After we receive your protest form the Board of Appeals will contact you to schedule your hearing.
When I received my “Change of Assessment”
notice, it had the Market Value, the Taxable Value,
and the Assessed Value.
What do these different values mean?
Market Value is the value the property would sell for in an open market between a willing seller and a willing buyer. These sales are used to arrive at the market value of similar properties. It requires the reconciliation of differences among the various properties that have sold and the properties being appraised.
Taxable Value is the value the assessment will be based on. The Taxable Value cannot increase more than 5% over last year’s Taxable Value unless the title is transferred and/or new improvements are made to the property. The Taxable Value may or may not equal the Market Value.
Assessed Value is currently 11% of the Taxable Value of the property. The Net Assessed Value (Value after any exemption is applied) is used to calculate the tax bill.
Example:
Tax Yr Market Value Taxable Value Assessed Value
(11% of Taxable)
1995 $80,000 $80,000 $8,800
1996 $88,800 (11% of increase) $84,000 (5% increase) $9,240
1997 $88,800 (no change) $88,200 (5% increase) $9,702
1998 $88,800 (no change) $88,800 (less than 5%) $9,768
(Taxable cannot be more than Market)
For more information about Properties, please contact:
Ken Yazel
Tulsa County Assessor
Tulsa County Admin. Bldg., Room 215
500 S. Denver
Tulsa, OK 74103
(918) 596-5143 or (918) 596-5118 or (918) 596-5166
(8:30 AM – 5:00 PM, CST, M-F)
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