{"data":{"id":"us-ok/okla.-stat.-tit.-68-68-2940","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 68, § 68-2940","heading":"Property acquired for public purpose - Relief from taxes","body":"Whenever the United States, the state, or a city, town, county,\n\nschool district, or any other political subdivision, including, but\n\nnot limited to, a turnpike authority, municipal trust, water or\n\nconservation district, flood control district, levee or waterway\n\nimprovement district, urban renewal authority, public housing\n\nauthority, or any other authority authorized by law, state or\n\nfederal, acquires title to any real property for a governmental\n\npurpose between January 1 and October 1 of the tax year, such\n\nproperty shall be relieved of ad valorem tax for the remaining\n\nmonths of the year beginning with the first of the month next\n\nsucceeding the date its acquisition for public purposes becomes a\n\nmatter of public record, if the deed thereto was recorded prior to\n\nOctober 1; provided, however, that all taxes assessed against such\n\nproperty prior to its acquisition shall be paid in full and there be\n\npaid a sum equal to one-twelfth (1/12) times the number of months\n\nthat the property remained in private ownership of an amount\n\nestimated by the county treasurer of the county wherein the real\n\nproperty lies to be substantially equal to the amount of tax which\n\nwould have been or will become due and payable for the year had the\n\nreal property not been acquired for public purposes. In estimating\n\nthe amount of taxes which would have been or will become due and\n\npayable for the tax year had the real property not been acquired for\n\npublic purposes the county treasurer shall use as a basis the\n\ncurrent assessment and the tax rate for the preceding year, unless\n\nthe tax for the current year shall be by then determined and set, in\n\nwhich event he shall use as basis the new assessment and rate. The\n\npublic agency acquiring the property shall deduct the amount of such\n\ntaxes from the purchase price payable to the private owner and remit\n\nthe same to the county treasurer in satisfaction of such taxes. The\n\ncounty treasurer of any county is hereby authorized upon order of\n\nthe board of tax roll corrections to cancel of record all taxes\n\nassessed against such property for the year of its acquisition when\n\nthe deed thereto was recorded prior to October 1 and the aforesaid\n\nestimated amount of the tax for the months that the property was in\n\nprivate ownership is paid, which order shall be issued upon\n\napplication of the acquiring authority.","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":"27b332776dbd7b50a886f3df7cd9c1affd11c4c1a75df7923317a7ac4f4b065c","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-68-68-2939","next":"us-ok/okla.-stat.-tit.-68-68-2941"},"notice":"GroundRules: Original legal text. Not legal advice."}