Oklahoma Real Estate Tax ("Rounding by 500")
Learn how to properly round Oklahoma Real Estate Tax values when filing.
Written by Service Desk
Updated at September 3rd, 2024
Oklahoma applies real estate transactional taxes at a (current) rate of $.75 per $500 of value. Importantly, any amount between $500 levels is ignored. While Rounding is one way to accomplish the correct valuation, using the built-in Integer function is easier.
This example divides the Property Value by $500, using Integer to avoid any “excess” value, then multiplying the result by the tax rate.
