Okla. Stat. tit. 68, § 68-2859: Railroads, air carriers and public service corporations -

Returns not conclusive as to value or amount of property - Duties,

power and authority of State Board of Equalization.

A. The returns of railroads, air carriers and public service

corporations shall not be conclusive as to the value or amount of

any property. The State Board of Equalization shall have the

authority and it shall be its duty to raise or lower the returned

value:

1. Of any personal property, to conform to the fair cash value

thereof, estimated at the price it would bring at a fair voluntary

sale; or

2. Of any real property at not to exceed its fair cash value

for the highest and best use for which such property is actually

used or classified for use.

B. It shall be the duty of the State Board of Equalization,

with the assistance of the Oklahoma Tax Commission, to do all things

necessary to enable it to assess and value all taxable property of

railroads, air carriers and public service corporations, discover

omitted property, and determine the taxable status of any property

which is claimed to be exempt from ad valorem taxation for any

reason.

C. In the performance of its duties, as prescribed by this

section, the State Board of Equalization, or any duly authorized

representative thereof, shall have the power to administer oaths, to

conduct hearings, and to compel the attendance of witnesses and the

production of the books, records and papers of any person, firm,

association, or corporation; and to enter any business or commercial

premises and inspect the property of the taxpayer.

D. Prior to entering the business or commercial premises of any

taxpayer for purposes of discovering personal property, the State

Board of Equalization shall request permission to enter the business

or commercial premises and shall state the reason for the

inspection. If access to the business or commercial premises is

denied, the State Board of Equalization shall be required to obtain

a search warrant in order to conduct an inspection of the interior

of the business or commercial premises. A search warrant may be

obtained upon a showing of probable cause that personal property

located within particularly described business or commercial

premises is subject to ad valorem taxation, but not listed or

assessed for ad valorem taxation as required by law.