{"data":{"id":"us-ok/okla.-stat.-tit.-68-68-2859","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 68, § 68-2859","heading":"Railroads, air carriers and public service corporations -","body":"Returns not conclusive as to value or amount of property - Duties,\n\npower and authority of State Board of Equalization.\n\nA. The returns of railroads, air carriers and public service\n\ncorporations shall not be conclusive as to the value or amount of\n\nany property. The State Board of Equalization shall have the\n\nauthority and it shall be its duty to raise or lower the returned\n\nvalue:\n\n1. Of any personal property, to conform to the fair cash value\n\nthereof, estimated at the price it would bring at a fair voluntary\n\nsale; or\n\n2. Of any real property at not to exceed its fair cash value\n\nfor the highest and best use for which such property is actually\n\nused or classified for use.\n\nB. It shall be the duty of the State Board of Equalization,\n\nwith the assistance of the Oklahoma Tax Commission, to do all things\n\nnecessary to enable it to assess and value all taxable property of\n\nrailroads, air carriers and public service corporations, discover\n\nomitted property, and determine the taxable status of any property\n\nwhich is claimed to be exempt from ad valorem taxation for any\n\nreason.\n\nC. In the performance of its duties, as prescribed by this\n\nsection, the State Board of Equalization, or any duly authorized\n\nrepresentative thereof, shall have the power to administer oaths, to\n\nconduct hearings, and to compel the attendance of witnesses and the\n\nproduction of the books, records and papers of any person, firm,\n\nassociation, or corporation; and to enter any business or commercial\n\npremises and inspect the property of the taxpayer.\n\nD. Prior to entering the business or commercial premises of any\n\ntaxpayer for purposes of discovering personal property, the State\n\nBoard of Equalization shall request permission to enter the business\n\nor commercial premises and shall state the reason for the\n\ninspection. If access to the business or commercial premises is\n\ndenied, the State Board of Equalization shall be required to obtain\n\na search warrant in order to conduct an inspection of the interior\n\nof the business or commercial premises. A search warrant may be\n\nobtained upon a showing of probable cause that personal property\n\nlocated within particularly described business or commercial\n\npremises is subject to ad valorem taxation, but not listed or\n\nassessed for ad valorem taxation as required by law.","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":"43d1b5dbb29da213169d60663a5657004ebdf0566ac1b2b138c1253f8d16bfdb","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-68-68-2858","next":"us-ok/okla.-stat.-tit.-68-68-2860"},"notice":"GroundRules: Original legal text. Not legal advice."}