Taxes in Owasso, Oklahoma
Complete tax guide for Owasso, OK. State income tax up to 4.75%, 0.91% property tax, 4.87% sales tax. Calculate your total tax burden.
State Income Tax
4.75%
Oklahoma
Property Tax
0.91%
Effective rate
Sales Tax
4.87%
Combined rate
Tax Burden
Low
Owasso, OK Tax Overview
Population
38,940
Median Income
$54,600
Cost of Living
88.7 (100 = avg)
State Income Tax
4.75%
Median Home Price
$172,000
Owasso Tax Calculator
Pre-filled with Owasso median: $54,600
Total Tax Burden in Owasso
$11,284
Take-Home: $43,316 · Effective Rate: 20.67%
Federal Tax
$4,514
8.27% eff.
OK State
$2,594
4.75% eff.
FICA
$4,177
7.65% eff.
Take-Home
$43,316
79.33% kept
Tax Breakdown
| Item | Annual | Monthly |
|---|---|---|
| Gross Income | $54,600.00 | $4,550.00 |
| Federal Income Tax | -$4,513.50 | -$376.13 |
| Oklahoma State Tax | -$2,593.50 | -$216.13 |
| Social Security (6.2%) | -$3,385.20 | -$282.10 |
| Medicare (1.45%) | -$791.70 | -$65.98 |
| Take-Home Pay | $43,316.10 | $3,609.67 |
Property Tax in Owasso
Median Home
$172,000
Annual Tax
$1,565
Monthly Tax
$130
Effective Rate
0.91%
Sales Tax in Owasso
Combined Rate
4.87%
State Portion
~2.4%
Local Portion
~2.5%
The combined sales tax rate in Owasso is 4.87%, which is below the national average of 7.12%. On a $100 purchase, you would pay $4.87 in sales tax.
Tax Burden Comparison
| Tax Type | Owasso | Oklahoma Avg | National Avg |
|---|---|---|---|
| Income Tax | 4.75% | 4.75% | 4.6% |
| Property Tax | 0.91% | ~0.91% | 1.1% |
| Sales Tax | 4.87% | ~4.87% | 7.12% |
| Overall Burden | Low | — | Moderate |
Tax Saving Tips for Owasso Residents
- Oklahoma's income tax rate of 4.75% is competitive. You may still benefit from maximizing 401(k) contributions ($23,500 limit) to reduce your taxable income at both state and federal levels.
- Property tax in Owasso (0.91%) is below the national average of 1.1%. This makes homeownership more affordable here relative to property tax burden.
- Use a Health Savings Account (HSA) if eligible. Contributions are tax-deductible ($4,300 individual, $8,550 family), growth is tax-free, and withdrawals for medical expenses are tax-free.
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See detailed state tax brackets, FICA breakdown, and compare to neighboring states.
Frequently Asked Questions
What are the tax rates in Owasso, OK?
Owasso, Oklahoma has a state income tax rate up to 4.75%. The property tax rate is 0.91% and the combined sales tax rate is 4.87%.
How much is property tax in Owasso?
The effective property tax rate in Owasso is 0.91%. On the median home price of $172,000, this equals approximately $1,565 per year or $130 per month. This is below the national average of 1.1%.
What is the sales tax rate in Owasso?
The combined sales tax rate in Owasso is 4.87%, which includes both state and local components. This is below the national average combined rate of approximately 7.12%.
How does Owasso's tax burden compare to other cities?
Owasso has a low overall tax burden. The effective total tax rate for a median-income household is approximately 24.2%. The combination of 4.75% state income tax, 0.91% property tax, and 4.87% sales tax determines the total burden. Cost of living index is 88.7 (100 = national average).
Are there any local taxes in Owasso?
Owasso does not impose a separate local or city income tax. Residents pay the state income tax of 4.75%, federal income tax, and FICA (Social Security and Medicare).