Okla. Admin. Code § 710:10-9-10

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

Section 710:10-9-10 - Calculation of homestead exemption

The homestead exemption described by 710:10-9-9 shall be calculated as follows:

(1) The land is valued at fair cash value;

(2) The county assessor's current fractional assessment percentage is applied to the fair cash value of the land to obtain the assessment;

(3) The one-thousand dollar ($1,000) homestead exemption is deducted from the assessment of the land and the manufactured home; and

(4) Any excess homestead exemption value cannot be applied to the manufactured home if the manufactured home is assessed as personal property .

Okla. Admin. Code § 710:10-9-10

Amended at 12 Ok Reg 2603, eff 6-26-95; Amended at 19 Ok Reg 1205, eff 5-11-02