{"data":{"id":"us-ok/okla.-stat.-tit.-68-68-2802.1","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 68, § 68-2802.1","heading":"Implementation of Oklahoma Constitution Article X,","body":"Section 8B - Definitions - Promulgation of rules.\n\nA. For purposes of implementing Section 8B of Article X of the\n\nOklahoma Constitution:\n\n1. \"Any person\" means any person or entity, whether real or\n\nartificial, other than the present owner;\n\n2. \"Any year when title to the property is transferred,\n\nchanged, or conveyed to another person or when improvements have\n\nbeen made to the property\" means the year next preceding the January\n\n1 assessment date;\n\n3. \"Improvement\" means a valuable addition made to property\n\namounting to more than normal repairs, replacement, maintenance or\n\nupkeep, but for purposes of Section 8B of Article X of the Oklahoma\n\nConstitution shall not mean any expenditure, whether or not pursuant\n\nto a policy of insurance, for the purpose of repairing damage to a\n\nresidential or business structure caused by rain, strong winds,\n\ntornadic winds, hail, fire or any other natural disaster or other\n\nevent causing damage and any such improvements made shall be\n\ndisregarded for purposes of determining the maximum amount of fair\n\ncash value subject to ad valorem taxation pursuant to Section 8B of\n\nArticle X of the Oklahoma Constitution unless the improvements\n\nincrease the square footage in which case only additional square\n\nfootage may be considered an \"improvement\". If improvements\n\nconstitute an increase in square footage, the county assessor shall\n\ndetermine the fair cash value of the additional square footage and\n\nshall separately determine the maximum fair cash value subject to ad\n\nvalorem taxation for the square footage which is not part of the\n\nadditional square footage amount and only in the amount authorized\n\nby Section 8B of Article X of the Oklahoma Constitution. Except\n\nwith respect to the additional square footage, such improvements\n\nshall not allow any county assessor to increase the fair cash value\n\nof the applicable property by more than the percentage allowed by\n\nSection 8B of Article X of the Oklahoma Constitution for property\n\nupon which no improvements have been made; and\n\n4. \"Transfers, change or conveyance of title\" means all types\n\nof transfers, changes or conveyances of any interest, whether legal\n\nor equitable. However, \"transfers, change or conveyance of title\"\n\nshall not include the following:\n\na. deeds recorded prior to January 1, 1996,\n\nb. deeds which secure a debt or other obligation,\n\nc. deeds which, without additional consideration,\n\nconfirm, correct, modify or supplement a deed\n\npreviously recorded,\n\nd. deeds between husband and wife, or parent and child,\n\nor any persons related within the second degree of\n\nconsanguinity, without actual consideration therefor,\n\nor deeds between any person and an express revocable\n\ntrust created by such person or such person's spouse,\n\ne. deeds of release of property which is security for a\n\ndebt or other obligation,\n\nf. deeds of partition, unless, for consideration, some of\n\nthe parties take shares greater in value than their\n\nundivided interests,\n\ng. deeds made pursuant to mergers of partnerships,\n\nlimited liability companies or corporations, or deeds\n\npursuant to which property is transferred from a\n\nperson to a partnership, limited liability company or\n\ncorporation of which the transferor or the\n\ntransferor's spouse, parent, child, or other person\n\nrelated within the second degree of consanguinity to\n\nthe transferor, or trust for primary benefit of such\n\npersons, are the only owners of the partnership,\n\nlimited liability company or corporation,\n\nh. deeds made by a subsidiary corporation to its parent\n\ncorporation for no consideration other than the\n\ncancellation or surrender of the subsidiary's stock,\n\nor\n\ni. any deed executed pursuant to a foreclosure proceeding\n\nin which the grantee is the holder of a mortgage on\n\nthe property being foreclosed, or any deed executed\n\npursuant to a power of sale in which the grantee is\nny or corporation,\n\nh. deeds made by a subsidiary corporation to its parent\n\ncorporation for no consideration other than the\n\ncancellation or surrender of the subsidiary's stock,\n\nor\n\ni. any deed executed pursuant to a foreclosure proceeding\n\nin which the grantee is the holder of a mortgage on\n\nthe property being foreclosed, or any deed executed\n\npursuant to a power of sale in which the grantee is\n\nthe party exercising such power of sale or any deed\n\nexecuted in favor of the holder of a mortgage on the\n\nproperty in consideration for the release of the\n\nborrower from liability on the indebtedness secured by\n\nsuch mortgage except as to cash consideration paid.\n\nB. This section shall be applied effective from the date of the\n\npassage of Section 8B of Article X of the Oklahoma Constitution.\n\nC. The Oklahoma Tax Commission shall promulgate rules necessary\n\nto implement Section 8B of Article X of the Oklahoma Constitution\n\nand this section.","path":["OK Code","Title 68"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os68.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"96e812fe9b4c4463d29debd1c42ef6020b148987f58f1182baa66a4a8a071e99","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-68-68-2802","next":"us-ok/okla.-stat.-tit.-68-68-2802.2"},"notice":"GroundRules: Original legal text. Not legal advice."}