SB1842

Oklahoma SB1842 allows county treasurers to offer a prepayment option for ad valorem taxes, with specific eligibility and payment rules.

Oklahoma SB1842 amends the state's tax collection laws to allow county treasurers to offer a prepayment option for ad valorem taxes. This option allows taxpayers to make twelve installment payments for the following calendar year. However, it is not available for accounts with delinquent taxes, ongoing valuation protests, taxes paid through escrow accounts, or public service corporations. The prepayment option requires notification to the county treasurer and mandates that the total tax owed be paid before January 1. If the tax is not paid by then, it becomes delinquent.