Okla. Stat. tit. 63, § 63-4023: Purpose of fees - Payment in lieu of ad valorem taxes

The registration fees herein imposed upon vessels and motors

shall be for the purpose of reimbursing and providing funds for

general governmental functions of the state, and when paid in full

such fees shall be in lieu of all ad valorem taxes, general or

local, to which such vessels and motors may be subject as personal

property under the laws of this state.