Okla. Stat. tit. 68, § 68-2829
This is the official text of Okla. Stat. tit. 68, § 68-2829, part of Oklahoma’s Stat. tit. 68, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 68,." Browse the sections below, each linked to its official government source.
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Valuation of property pursuant to accepted mass appraisal
Official statutory text
methodology.
A. Each county assessor, in order to comply with the provisions
of Section 17 of this act requiring the annual valuation of all
taxable real and personal property within the county, shall
establish the fair cash value of such taxable property using an
accepted mass appraisal methodology.
B. For purposes of this section "accepted mass appraisal
methodology" shall mean the process for making estimates of fair
cash value for a property about which no direct or timely
information is available concerning economic value by using known
information about the property characteristics, location, use, size,
sales price and other information of similar properties. Such mass
appraisal methodology may include multiple regression analysis or
other statistical techniques for mass appraisal. If information of
similar properties is not available in the taxing jurisdiction, the
county assessor may use other applicable regional or national
information to annually determine the fair cash value of a property
estimated at the price it would bring at a fair voluntary sale as
provided in Section 17 of this act.
C. Each county assessor shall utilize the information gathered
from the visual inspection of real property conducted during each
year of the four-year cycle for such inspections and shall conduct
such statistical calculations using the data so acquired together
with sales price or other information available as may be required
to make accurate estimates of fair cash values for all taxable real
or personal property within the county each year. The results of
such calculations shall be recorded on the assessment roll of the
county on an annual basis in order to reflect any increase or
decrease in the fair cash value of any property in any year.
D. The statistical analysis required by this section shall be
performed within each county using such computer facilities as may
be available, but shall be conducted in accordance with procedures
established for the uniform mass appraisal program established by
the Oklahoma Tax Commission.
A. Each county assessor, in order to comply with the provisions
of Section 17 of this act requiring the annual valuation of all
taxable real and personal property within the county, shall
establish the fair cash value of such taxable property using an
accepted mass appraisal methodology.
B. For purposes of this section "accepted mass appraisal
methodology" shall mean the process for making estimates of fair
cash value for a property about which no direct or timely
information is available concerning economic value by using known
information about the property characteristics, location, use, size,
sales price and other information of similar properties. Such mass
appraisal methodology may include multiple regression analysis or
other statistical techniques for mass appraisal. If information of
similar properties is not available in the taxing jurisdiction, the
county assessor may use other applicable regional or national
information to annually determine the fair cash value of a property
estimated at the price it would bring at a fair voluntary sale as
provided in Section 17 of this act.
C. Each county assessor shall utilize the information gathered
from the visual inspection of real property conducted during each
year of the four-year cycle for such inspections and shall conduct
such statistical calculations using the data so acquired together
with sales price or other information available as may be required
to make accurate estimates of fair cash values for all taxable real
or personal property within the county each year. The results of
such calculations shall be recorded on the assessment roll of the
county on an annual basis in order to reflect any increase or
decrease in the fair cash value of any property in any year.
D. The statistical analysis required by this section shall be
performed within each county using such computer facilities as may
be available, but shall be conducted in accordance with procedures
established for the uniform mass appraisal program established by
the Oklahoma Tax Commission.
Status: in_force · Read it on the official government site
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