Low Tax Burden

Oklahoma is known for being friendly, but not when it comes to high taxes. The state ranks squarely in the bottom third of the U.S. for taxes as a percentage of income.

Sales Tax: Varies according to municipality, currently 8.375% (4.5% state + 0.0% county +3.875% city) in the city of Oklahoma City.

Property Tax: Oklahoma ranks 47-lowest in property taxes, according to MSN Money. Rates vary by county and area of county, in Oklahoma County assessment ratios vary from 11% for real property to 13.75% for personal property. Homestead exemptions allow a $1,000 deduction from the assessed value for primary residences. More info can be found here.

Personal Income Tax: State income tax levels range from 0.5% to 5.5%. The highest bracket was recently reduced from 6.25% to 5.5% in 2007, and then from 5.5% to 5.25% in 2011.