Okla. Stat. tit. 62, § 62-884
This is the official text of Okla. Stat. tit. 62, § 62-884, 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.
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Ad valorem tax exemption - Effect on school state aid
Official statutory text
Pursuant to the provisions of Section 6C of Article X of the
Oklahoma Constitution, a municipality or county may provide an
exemption from ad valorem taxes in a housing reinvestment district
pursuant to the provisions of this act. A school district or taxing
Oklahoma Statutes - Title 62. Public Finance Page 579
entity other than a municipality or county may provide an exemption
from ad valorem taxes in a housing reinvestment district pursuant to
the provisions of this act through a contractual arrangement with
the municipal or county governing body. The loss of revenue to a
school district from any such exemption from ad valorem taxes shall
be borne by the school district and such exempted revenue shall be
treated as being received by the school district for purposes of
computation of the school district’s state aid pursuant to the
provisions of Article 18 of Title 70 of the Oklahoma Statutes.
Oklahoma Constitution, a municipality or county may provide an
exemption from ad valorem taxes in a housing reinvestment district
pursuant to the provisions of this act. A school district or taxing
Oklahoma Statutes - Title 62. Public Finance Page 579
entity other than a municipality or county may provide an exemption
from ad valorem taxes in a housing reinvestment district pursuant to
the provisions of this act through a contractual arrangement with
the municipal or county governing body. The loss of revenue to a
school district from any such exemption from ad valorem taxes shall
be borne by the school district and such exempted revenue shall be
treated as being received by the school district for purposes of
computation of the school district’s state aid pursuant to the
provisions of Article 18 of Title 70 of the Oklahoma Statutes.
Status: in_force · Read it on the official government site
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