Okla. Stat. tit. 68, § 68-2866: Oklahoma Tax Commission - Equalization ratio study

A. For purposes of reporting to the State Board of Equalization

the ratio derived from comparing the assessed value of the real

property of each county to the full or fair cash value of such real

property, the Oklahoma Tax Commission shall conduct and publish an

equalization ratio study for each county annually in accordance with

the requirements of this section.

B. The equalization ratio study shall be conducted in a manner

that ensures:

1. the ratio of assessed value to the fair cash value of

properties in a sample extracted from a county is expressed as a

median of the ratios determined for all properties included in the

sample;

2. sample data gathered for purposes of establishing the fair

cash value of properties within the sample relates to the applicable

assessment date of the study in a manner that produces reliable

ratio study results;

3. sample sizes of sufficient numbers to produce an estimated

ratio for a use category within a county or a ratio for an entire

county at a ratio that accurately estimates the true, but unknown,

assessment level;

4. appraisals selected for inclusion in the ratio study are

representative of the use category or stratum of properties included

in the sample;

5. sales files containing adequate information are developed

and maintained for purposes of appraisals; and

6. uniformity of assessments within a use category or stratum

for a county do not exceed a coefficient of dispersion value of

twenty percent (20%).

C. The Oklahoma Tax Commission shall provide for a computer

system that permits the equalization ratio study to be conducted

pursuant to the requirements of this section. Such computer system

shall be designed to permit monitoring and analysis of assessment

performance in the several counties and to detect noncompliance with

legal standards for valuation of taxable property in order to

fulfill the duties imposed by Section 2830 of this title. The

provisions of this subsection shall not be construed to authorize

the Oklahoma Tax Commission to install a mainframe computer capable

of remote monitoring of or making inputs into computers in the

offices of the various county assessors.