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Where Does The Money For Property Tax In Oklahoma Go?

Where Does The Money For Property Tax In Oklahoma Go?

Postby Obrien » Thu Jan 30, 2014 12:10 pm

I am doing a project for marketing at Everett high school on Oklahoma and its taxes
Obrien
 
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Where Does The Money For Property Tax In Oklahoma Go?

Postby Jairus » Thu Jan 30, 2014 4:46 pm

property tax in Oklahoma WHAT IS THE JOB OF THE COUNTY ASSESSOR?The county assessor is responsible for the following:Lists and maintains records on each piece of taxable real and personal property in Oklahoma County. REAL PROPERTY includes land and buildings. PERSONAL PROPERTY includes business furniture and fixtures, business equipment, business inventory, farm equipment, and manufactured homes. As Oklahoma County Assessor, Leonard Sullivan is responsible for the equitable assessment of all taxable properties in Oklahoma County. Individual parcels now number close to 300,000 and cover an area of 720 square miles. An unprecedented amount of this information is now being made available in a variety of formats. Please follow this shortcut to view the Assessors Records Reproduction Policy. Click Here Records Reproduction Policy.Determines fair market value annually for homes, businesses and other taxable property in Oklahoma County. Fair market value may go up or down depending on the real estate market in the county.Notifies property owners of any increase in the fair market value of their property.Assists taxpayers in filing HOMESTEAD EXEMPTION and affidavits for property that is exempt under Oklahoma law.Resolves questions or protests about valuation.Preparation and certification of the assessment and tax rolls.Appears before the COUNTY BOARD OF EQUALIZATION.HOW DO I FIGURE MY TAX? The method for figuring ad valorem taxes requires four steps: You must know the taxable market value of your property, the assessment ratio(11% Real Property - 13.75% Personal), any exemptions, and the tax rate for your area of the county. The example is based upon a property that has a taxable market value of $50,000 with homestead exemption and a tax rate of $100 per thousand.In this example, the final tax bill is $450. This could vary if the district in which the property is located had higher or lower school, city or other bond issues. Rates generally vary from $75 to $125 per thousand within the county.HOW ARE TAX RATES SET FOR MY PROPERTY?Tax rates or millage levies are set by procedures established in the Oklahoma Constitution or voted directly by the taxpayers. Rates are not set by the County Assessor. There are over 75 different rates in Oklahoma County and those vary across the county depending on which school district, city limit and vocational-technical school district the property is located. The tax or millage rate levied against a property makes a great deal of difference in the taxes paid. Rates vary in Oklahoma County from $75 to $125 per thousand.WHAT IS A MILL? A mill is one-thousandth of a dollar. For convenience in Oklahoma, a tax rate(the sum of all mills levied) is expressed as dollars per thousand dollars of assessed value. A Tax rate of 80 mills, for example, would be 80 tax dollars. Sources: http://www.oklahomacounty.org/assessor/GeneralInfo.htm harini 47 months ago Please sign in to give a compliment. Please verify your account to give a compliment. Please sign in to send a message. Please verify your account to send a message.
Jairus
 
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Where Does The Money For Property Tax In Oklahoma Go?

Postby Hrocby » Tue Feb 04, 2014 2:52 pm

I'm wondering if the asker actually resides in Oklahoma?
Hrocby
 
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Where Does The Money For Property Tax In Oklahoma Go?

Postby Broin » Fri Feb 07, 2014 11:15 pm

I don't know, but seeing as how right now is tax season, you should contact whoever is listed as the Treasurer for your jurisdiction... you might want to contact the municipal building(the same place where you would pay to get your dog registered).Are you talking about PROPERTY like houses, or are you talking personal property like cars and ATVs and whatnot? it probably makes a difference.
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