Oklahoma SB1087 provides ad valorem tax credits for property owners affected by local government policies or nuisances.
Oklahoma SB1087 allows property owners to claim a credit against their ad valorem tax for reductions in their property's fair cash value or expenses incurred due to local government policies or public nuisances. The credit can be either the reduction in fair cash value or the mitigation expenses, at the owner's choice. The credit cannot be used for certain decisions by local authorities or acts of executive clemency. The burden of proof in challenges to the credit lies with the local government.
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- Legal Framework
- Critical Issues
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