Okla. Stat. tit. 62, § 62-862
This is the official text of Okla. Stat. tit. 62, § 62-862, part of Oklahoma’s Stat. tit. 62, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 62,." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Base assessed value - Computation of tax levy
Official statutory text
A. Upon approval of a project plan containing apportionment
financing as provided in Section 861 of this title, the county
assessor shall, within ninety (90) days, determine the total
Oklahoma Statutes - Title 62. Public Finance Page 560
assessed value of all taxable real property and all taxable personal
property within the boundaries of an increment district which shall
be certified by the assessor as the "base assessed value".
B. Any school district located within the boundaries of an
increment district may file a protest with the governing body of the
city, town or county as to the amount certified by the county
assessor as the "base assessed value" of the increment district.
Such protest shall be filed within thirty (30) days after the "base
assessed value" is certified by the county assessor. The governing
body of the city, town or county shall notify the county assessor of
the protest. Within thirty days after being notified of the
protest, the county assessor shall redetermine the total assessed
value of all taxable real property and all taxable personal property
within the boundaries of the increment district and shall certify to
the governing body of the city, town or county the redetermined
amount as the "base assessed value" of that district.
C. After the county assessor has certified the "base assessed
value" of the taxable real property and the taxable personal
property in such increment district, then in respect to every taxing
jurisdiction receiving taxes levied in the increment district, the
county assessor or any other official required by law to ascertain
the amount of the equalized assessed value of all taxable property
within such increment district for the purpose of computing the tax
levy to be extended upon taxable property within such increment
district, for the purpose of calculating the general state school
aid formula, or for the purpose of computing any debt limitation,
shall in every year that the tax apportionment is in effect
ascertain the amount of value of taxable property in such increment
district by including in such amount the certified "base assessed
value" of all taxable real property and all taxable personal
property in such increment district in lieu of the equalized
assessed value of all taxable real property and all taxable personal
property in such increment district. The tax levy determined shall
be extended to the current equalized assessed value of all property
in the increment district in the same manner as the tax levy is
extended to all other taxable property in the increment district.
The method of extending taxes established under the provisions of
this section shall terminate when the governing body adopts an
ordinance or resolution dissolving the tax apportionment financing.
The provisions of this act shall not be construed as relieving
property owners within an increment district from paying a uniform
rate of taxes upon the current equalized assessed value of their
taxable property as required by Section 5 of Article X of the
Oklahoma Constitution.
financing as provided in Section 861 of this title, the county
assessor shall, within ninety (90) days, determine the total
Oklahoma Statutes - Title 62. Public Finance Page 560
assessed value of all taxable real property and all taxable personal
property within the boundaries of an increment district which shall
be certified by the assessor as the "base assessed value".
B. Any school district located within the boundaries of an
increment district may file a protest with the governing body of the
city, town or county as to the amount certified by the county
assessor as the "base assessed value" of the increment district.
Such protest shall be filed within thirty (30) days after the "base
assessed value" is certified by the county assessor. The governing
body of the city, town or county shall notify the county assessor of
the protest. Within thirty days after being notified of the
protest, the county assessor shall redetermine the total assessed
value of all taxable real property and all taxable personal property
within the boundaries of the increment district and shall certify to
the governing body of the city, town or county the redetermined
amount as the "base assessed value" of that district.
C. After the county assessor has certified the "base assessed
value" of the taxable real property and the taxable personal
property in such increment district, then in respect to every taxing
jurisdiction receiving taxes levied in the increment district, the
county assessor or any other official required by law to ascertain
the amount of the equalized assessed value of all taxable property
within such increment district for the purpose of computing the tax
levy to be extended upon taxable property within such increment
district, for the purpose of calculating the general state school
aid formula, or for the purpose of computing any debt limitation,
shall in every year that the tax apportionment is in effect
ascertain the amount of value of taxable property in such increment
district by including in such amount the certified "base assessed
value" of all taxable real property and all taxable personal
property in such increment district in lieu of the equalized
assessed value of all taxable real property and all taxable personal
property in such increment district. The tax levy determined shall
be extended to the current equalized assessed value of all property
in the increment district in the same manner as the tax levy is
extended to all other taxable property in the increment district.
The method of extending taxes established under the provisions of
this section shall terminate when the governing body adopts an
ordinance or resolution dissolving the tax apportionment financing.
The provisions of this act shall not be construed as relieving
property owners within an increment district from paying a uniform
rate of taxes upon the current equalized assessed value of their
taxable property as required by Section 5 of Article X of the
Oklahoma Constitution.
Status: in_force · Read it on the official government site
Need a lawyer in Oklahoma?
Find a Oklahoma lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.