{"data":{"id":"us-ok/okla.-stat.-tit.-68-68-5404","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 68, § 68-5404","heading":"Apportionment of collections from stamp sales - Report to","body":"county assessor - Computation of new assessed valuation.\n\nThe county treasurer shall remit and apportion each month all\n\ncollections from the sale of tax stamps pursuant to Section 5402 of\n\nthis title as follows:\n\n1. Two percent (2%) shall be remitted to Service Oklahoma for\n\ndeposit to the credit of the General Revenue Fund of the State\n\nTreasury; and\n\n2. Ninety-eight percent (98%) shall be distributed as if the\n\nfunds had been collected as ad valorem tax where the farm implement\n\ndealer’s business is located.\n\nFunds received by taxing jurisdictions from this source shall be\n\nutilized as if the funds had in fact been generated by ad valorem\n\ntaxes, including servicing of debt by sinking funds. On and after\n\nJanuary 1, 1993, and at the end of each calendar year thereafter,\n\nthe treasurer shall furnish a report to the county assessor, which\n\nshall show the total amount of in-lieu taxes authorized by Section\n\n5401 et seq. of this title and Section 2805 of this title and\n\napportioned during the fiscal year to those taxing jurisdictions\n\nauthorized to receive revenue from such in-lieu taxes. The assessor\n\nshall calculate annually the amount of assessed valuation that\n\notherwise would be displaced by such in-lieu tax, by dividing the\n\ntotal amount of revenue derived from such tax apportioned to each\n\ntaxing jurisdiction by the actual millage rate levied by each taxing\n\njurisdiction during the fiscal year. The assessor shall add the\n\nresult of that calculation to the actual assessed valuation of each\n\ntaxing jurisdiction to determine the new adjusted assessed valuation\n\nof each taxing jurisdiction, and such adjusted assessed valuation\n\nshall be used for all purposes, including the determination of debt\n\nlimits, in the following fiscal year whenever the term “assessed\n\nvaluation” is required to be used.","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":"c91ab1019a64f896ead54f1b587f528cad1df98dd266040f0df4746502f44940","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-68-68-5403","next":"us-ok/okla.-stat.-tit.-68-68-55001"},"notice":"GroundRules: Original legal text. Not legal advice."}