Okla. Admin. Code § 710:10-7-11

Current through Vol. 42, No. 7, December 16, 2024

Section 710:10-7-11 - County assessor to make initial determination of status; examination and valuation of the facility; notice upon rejection

(a) The county assessor shall examine each application for the manufacturing exemption from ad valorem taxation and shall determine whether the facility is exempt under the law. In determining whether the exemption application is to be approved, the assessor shall, if necessary, make inspections, make a written request for additional information, or examine any person under oath as provided by law.

(b) The assessor shall complete the assessor's portion of each application, whether approved or rejected, and shall consecutively number each application, retain a copy, and deliver the original application, whether approved or rejected, to the County Board of Equalization, on or before the fourth Monday in April each year for its review. After the County Board of Equalization has approved or rejected the application, the original application shall be forwarded to the Oklahoma Tax Commission Ad Valorem Division by June 15 ^th of the current year.

(c) If the manufacturer's application is approved, the assessor shall mark the Notice of Approval or Disapproval (OTC Form 900 XMA-B) "APPROVED" and notify the applicant at the address shown on the application. It shall then be the duty of the Oklahoma Tax Commission to make a physical inspection of each facility approved for the exemption, determine the fair cash value of the real property, if necessary, and the personal property separately, and to determine the assessed value of each by applying the assessor's assessment percentage to that value. The Tax Commission shall then notify the county assessor of the valuation.

(d) If the county assessor finds that the exemption should not be allowed by reason of not being in conformity to the law, he shall mark the Notice of Approval or Disapproval (OTC Form 900 XMA-B) "DISAPPROVED", stating the reason for the disapproval, and shall notify the applicant at the address shown in the application. The notice shall be mailed on or before the fourth Monday in April. The assessor shall then immediately proceed to value and assess the property, as provided by law.

Okla. Admin. Code § 710:10-7-11

Amended at 14 Ok Reg 2670, eff 6-26-97; Amended at 22 Ok Reg 1518, eff 6-11-05; Amended at 23 Ok Reg 2803, eff 6-25-06; Amended at 27 Ok Reg 2272, eff 7-11-10; Amended at 28 Ok Reg 931, eff 6-1-11; Amended at 29 Ok Reg 516, eff 5-11-12

Amended by Oklahoma Register, Volume 34, Issue 24, September 1, 2017, eff. 9/11/2017