{"data":{"id":"us-ok/okla.-stat.-tit.-11-11-38-123","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 11, § 11-38-123","heading":"Apportionment of mileage","body":"For every year in which tax increment allocations are used by a\n\ncity or an Urban Renewal Authority, the county excise board shall\n\napportion to the city in which such tax increment allocation\n\ndistrict is located, a part of the millage authorized by subsection\n\n(a) of Section 9 of Article X of the Oklahoma Constitution. The\n\nprocedure for apportioning such millage shall be as follows:\n\n1. Upon notice of such use by the city, the county assessor\n\nshall reassess the amount of increase from the base year net\n\nassessed valuation of real property within a tax increment\n\nallocation district and shall certify such amount to the county\n\nclerk and the county excise board before July 1 of each year. Such\n\namount, to the extent not already included, shall be added to the\n\nnet assessed valuation of the tax increment allocation district and\n\nthe total shall be referred to as the current year net assessed\n\nvaluation;\n\n2. The county excise board shall then determine the amount to\n\nbe apportioned. The procedure for determining such amount shall be\n\nas follows:\n\na. compute the revenue derived from the tax\n\nincrement allocation district's base year net assessed valuation by\n\nmultiplying the total millage levied during the prior year against\n\nthe base year net assessed valuation of the tax increment allocation\n\ndistrict,\n\nb. compute the revenue derived from the tax\n\nincrement allocation district's current year net assessed valuation\n\nby multiplying the total millage levied during the prior year\n\nagainst the current year net assessed valuation of the tax increment\n\nallocation district,\n\nc. compute the incremental tax revenue of the tax\n\nincrement allocation district subtracting the revenue derived from\n\nthe base year net assessed valuation from the revenue derived from\n\nthe current year net assessed valuation, and\n\nd. divide the incremental tax revenue by the\n\ncurrent year net assessed valuation of the city in which the tax\n\nincrement allocation district is located.\n\nThe result represents the amount of millage to be apportioned by the\n\ncounty excise board to the city in which the tax increment\n\nallocation district is located;\n\n3. The county excise board shall then apportion such amount to\n\nthe city, for use for urban renewal and urban redevelopment\n\npurposes, in accordance with Section 2495 of Title 68 of the\n\nOklahoma Statutes, provided that in no event shall the apportionment\n\nauthorized by this section exceed one-half (1/2) mill; and\n\n4. Such allocations with respect to a tax increment allocation\n\ndistrict shall terminate upon the expiration of thirty (30) years or\n\nsuch earlier date as may be determined by the municipality.","path":["OK Code","Title 11"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os11.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"149da3ef2bb1bc6fe39462c47d62c690ff37e15491122022a9fb3a3b8f70db69","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-11-11-38-122","next":"us-ok/okla.-stat.-tit.-11-11-39-101"},"notice":"GroundRules: Original legal text. Not legal advice."}