Property Tax Alert: Oklahoma

December 2006

Property that has been omitted from the Oklahoma property tax rolls in a prior year or years is to be entered on the assessment rolls, with interest, for those years omitted, according to the attorney general. After the taxpayer has been given notice of an opportunity to protest, and after that period has expired, the property is assessed for those years with the delinquent taxes, and 12% interest, extended to the current tax roll. The general rule for interest on delinquent taxes (1.5%) is not applicable to omitted property because of the special omitted property statute mandating 12% interest. The interest on the delinquent taxes, when collected, is credited to a resale property fund in the county where the property is located. The attorney general further clarified that only the county treasurer can correct or alter a tax roll with respect to omitted property and only with proper authority. What constitutes a proper correction of a tax roll is a question of fact that cannot be answered by the attorney general.

Please contact Rash & Associates for more information.