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A small Oklahoma County community posted the fastest rise in assessed residential values last year, highlighting uneven shifts in the local housing picture and raising fresh questions about property tax pressure as voters weigh a ballot measure this fall. The county assessor’s new figures show both rapid growth in some towns and slower gains in traditionally higher-priced areas.
Valley Brook posts the largest increase
The latest report from Oklahoma County Assessor Larry Stein shows Valley Brook led the county with an assessed residential value increase of about 10.85% between 2024 and 2025 — well above the countywide average. Several small eastern municipalities also outpaced that average.
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Those gains do not directly equate to market sales prices, but they can influence the taxable base used to calculate property taxes and the revenues that fund local services.
| City | Assessed value change |
|---|---|
| Valley Brook | 10.85% |
| Jones | 9.90% |
| Luther | 9.56% |
| Lake Aluma | 9.14% |
| Harrah | 7.57% |
| Smith Village | 7.32% |
| Spencer | 6.90% |
| Del City | 6.79% |
How assessed value differs from market value
Assessed value is an administrative estimate used to set the portion of a property’s worth that is taxable. It commonly runs lower than what buyers pay on the open market, because the assessment process factors in exemptions, caps and other adjustments. Still, changes in assessed values are closely watched because they shape municipal tax rolls and budget planning.
Several mechanics affect year-to-year assessed totals. Local exemptions or a property’s classification can reduce a home’s taxable figure. Construction of new residential units — including multifamily housing — increases total assessed value across a city. Conversely, storm damage or other losses can reduce an individual property’s assessed figure.
Where growth lagged
Not every community kept pace. Across the county the average increase was roughly 6.74%, and some cities recorded notably smaller gains.
- Forest Park — 5.27%
- Midwest City — 5.24%
- Warr Acres — 5.08%
- Nicoma Park — 4.78%
- Edmond — 4.52%
Edmond stands out for a different reason: although its assessed values rose the least among municipalities, it added more taxable residential properties than any other city in the county. The assessor’s roll counted 845 additional residential parcels in 2025, a growth of about 2.4% year-over-year. Harrah saw the next-largest increase in units, at roughly 1.7%.
Portions of Oklahoma City that lie inside Oklahoma County recorded a 6.2% rise in residential assessed values — slightly below the county average but ahead of several neighboring communities.
What this means for homeowners and local budgets
Rising assessments can translate into higher property tax bills if local mill rates stay the same. But Oklahoma law already limits how much a home’s taxable value can climb in a single year.
Under current rules, the annual growth in taxable value for a homeowner’s primary residence — the homestead cap — is limited to 3%. Other categories of property, such as commercial or rental units, can increase up to 5% in taxable value each year.
That framework is on the ballot this November. Senate Joint Resolution 39 would reduce those caps: homesteads and agricultural land would be capped at 1.75% annual growth in taxable value, while other non-homestead properties would be limited to 4%. Proponents say the change would offer homeowners more predictable tax bills; opponents warn it could constrain revenue for schools and local services.
Voters deciding SJR 39 will be weighing those trade-offs against the backdrop of the assessor’s report: pockets of rapid assessed-value growth are already visible, and any change to caps would affect how that growth translates into taxpayer liability and municipal budgets.
Data for this article was drawn from the Oklahoma County Assessor’s 2025 assessment report published by Larry Stein.
