{"data":{"id":"us-ok/okla.-stat.-tit.-19-19-1711","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 19, § 19-1711","heading":"Computation of levy for each fund - Procedure","body":"When the board has ascertained the total assessed valuation of\n\nthe property taxed ad valorem in the district, and has computed the\n\ntotal of the several items of appropriation for general fund,\n\nsinking fund, and other legal purposes for the district, the board\n\nshall then proceed to compute the levy for each fund of each\n\ndistrict. The levy for the general fund shall be that as last\n\nauthorized by a vote of the citizens of the district. The procedure\n\nfor the computation of the sinking fund levy shall be as follows:\n\n1. Determine the total amount of the several items of\n\nappropriation for the fund;\n\n2. Deduct from such total appropriation the actual cash surplus\n\nof the immediately preceding fiscal year;\n\n3. Deduct from the remainder thus ascertained the estimated\n\nprobable income from sources other than ad valorem taxation;\n\nhowever, in no event shall the amount of such estimated income\n\nexceed ninety percent (90%) of the actual collections from such\n\nsources for the previous fiscal year. Also, deduct the estimated\n\nprobable revenue to be derived from surplus collection from taxes in\n\nthe process of collection of the immediately preceding taxable year;\n\nprovided that the surplus so estimated shall be surplus cash as\n\nhereinafter defined, and shall include none of that portion of the\n\nreserve added at the beginning of such year for delinquent tax, and\n\nshall not exceed ninety percent (90%) of the actual collections of\n\nsurplus back taxes legally accrued to and credited to the same fund\n\naccount of the immediately preceding fiscal year;\n\n4. Add to the remainder a reserve for delinquent taxes, the\n\namount of which reserve shall be determined by the board, after\n\ntaking into consideration the amount of uncollected taxes for the\n\nprevious year or years; provided that the reserve so added shall not\n\nexceed twenty percent (20%) or be less than five percent (5%); and\n\nprovided, further, that the reserve so added shall not be subject to\n\nreview by the excise board;\n\n5. Compute the levy necessary to raise an amount of money equal\n\nto the remainder thus ascertained, based upon the total assessed\n\nvaluation of the district, taking into consideration any deduction\n\nwhich must be made because of the exemption of homesteads as\n\nrequired by Section 2406 et seq. of Title 68 of the Oklahoma\n\nStatutes; and\n\n6. Compute the reduction in levy necessary to be made because\n\nof monies being required by law to be used for the purpose of\n\nreducing ad valorem tax levies.\n\nThe rates of levy for general fund, sinking fund and other\n\npurposes authorized by law shall be separately made and stated, and\n\nthe revenue accruing therefrom respectively, when collected, shall\n\nbe credited to the proper fund accounts.","path":["OK Code","Title 19"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os19.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"d170bf3cee3e705343f2bca6411e245b318417023f3183911082c9e1519a0d29","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-19-19-1710.1","next":"us-ok/okla.-stat.-tit.-19-19-1712"},"notice":"GroundRules: Original legal text. Not legal advice."}