House Bill 1407 would add stipulations to county assessors when lowering real or personal property
A bill was introduced to the Oklahoma 55th Legislature earlier this month that would add stipulations on county assessors when it comes to decreasing the percentage of real or personal property.
Pfeiffer, who was elected in 2014, is a fifth generation Logan County farmer and rancher and Marine Corps veteran.
Pfeiffer’s bill states no county assessor may decrease the percentage of value used to compute the taxable value of real or personal property unless the assessor provides written notice of an intent to decrease the applicable percentage at least ninety (90) days prior to the first date as of which the assessor intends to cause such percentage to be decreased.
The written notice shall be mailed by certified mail with return receipt requested to the county treasurer, the county clerk, the county sheriff and to each of the county commissioners. Such notice shall be mailed not later than sixty (60) days prior to the expiration of the ninety-day period prescribed by this subsection.
The notice shall clearly state the percentage in effect prior to the decrease, the category of property (whether real or personal or both) to be affected by the proposed decrease in assessment percentage and the date as of which such decrease is proposed to take effect.
The proposal further states, the county assessor shall also be required to publish a notice of intent to decrease the applicable percentage which clearly states the percentage in effect prior to the decrease, the category of property (whether real or personal or both) to be affected by the proposed decrease in assessment percentage and the date as of which such decrease is proposed to take effect.
The notice shall be placed at least one time for three (3) consecutive weeks in a newspaper of general circulation in the county in which the assessor holds office. The last publication date shall be not later than thirty (30) days prior to the date that any decrease in the assessment percentage is implemented.
Before the county assessor may implement a decrease in an assessment percentage with respect to either real or personal property, there shall be at least three public meetings held at a location within the county prior to the date as of which the first decrease in assessment percentage occurs.
Notice of the meetings shall be posted in the office of the county assessor, the office of the county treasurer, the offices of each county commissioner, the office of the county clerk and such other places within the county as may be feasible in order to provide adequate notice of the date, time and location of each meeting.
The last public meeting shall be held not later than thirty (30) days prior to the date any decrease in the applicable assessment percentage is implemented.
Finally, the bill states the county assessor or a designee from the office of the county assessor shall attend each of the public meetings in order to answer questions about the proposed decrease in the assessment percentage and any possible effects on the budgets of any ad valorem taxing jurisdiction.
The bill, if approved, would go into law Nov. 1, 2015.