{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-862","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-862","heading":"Base assessed value - Computation of tax levy","body":"A. Upon approval of a project plan containing apportionment\n\nfinancing as provided in Section 861 of this title, the county\n\nassessor shall, within ninety (90) days, determine the total\n\nassessed value of all taxable real property and all taxable personal\n\nproperty within the boundaries of an increment district which shall\n\nbe certified by the assessor as the \"base assessed value\".\n\nB. Any school district located within the boundaries of an\n\nincrement district may file a protest with the governing body of the\n\ncity, town or county as to the amount certified by the county\n\nassessor as the \"base assessed value\" of the increment district.\n\nSuch protest shall be filed within thirty (30) days after the \"base\n\nassessed value\" is certified by the county assessor. The governing\n\nbody of the city, town or county shall notify the county assessor of\n\nthe protest. Within thirty days after being notified of the\n\nprotest, the county assessor shall redetermine the total assessed\n\nvalue of all taxable real property and all taxable personal property\n\nwithin the boundaries of the increment district and shall certify to\n\nthe governing body of the city, town or county the redetermined\n\namount as the \"base assessed value\" of that district.\n\nC. After the county assessor has certified the \"base assessed\n\nvalue\" of the taxable real property and the taxable personal\n\nproperty in such increment district, then in respect to every taxing\n\njurisdiction receiving taxes levied in the increment district, the\n\ncounty assessor or any other official required by law to ascertain\n\nthe amount of the equalized assessed value of all taxable property\n\nwithin such increment district for the purpose of computing the tax\n\nlevy to be extended upon taxable property within such increment\n\ndistrict, for the purpose of calculating the general state school\n\naid formula, or for the purpose of computing any debt limitation,\n\nshall in every year that the tax apportionment is in effect\n\nascertain the amount of value of taxable property in such increment\n\ndistrict by including in such amount the certified \"base assessed\n\nvalue\" of all taxable real property and all taxable personal\n\nproperty in such increment district in lieu of the equalized\n\nassessed value of all taxable real property and all taxable personal\n\nproperty in such increment district. The tax levy determined shall\n\nbe extended to the current equalized assessed value of all property\n\nin the increment district in the same manner as the tax levy is\n\nextended to all other taxable property in the increment district.\n\nThe method of extending taxes established under the provisions of\n\nthis section shall terminate when the governing body adopts an\n\nordinance or resolution dissolving the tax apportionment financing.\n\nThe provisions of this act shall not be construed as relieving\n\nproperty owners within an increment district from paying a uniform\n\nrate of taxes upon the current equalized assessed value of their\n\ntaxable property as required by Section 5 of Article X of the\n\nOklahoma Constitution.","path":["OK Code","Title 62"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os62.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"8e101a22448892bb27b9600e463f7596cf02bdc2e19167f96dfbfe6055b91561","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-861","next":"us-ok/okla.-stat.-tit.-62-62-863"},"notice":"GroundRules: Original legal text. Not legal advice."}