Apportionment of collections from stamp sales - Report to county assessor - Computation of new assessed valuation

Official textoscn.netlast amended Jul 01, 2026

The county treasurer shall remit and apportion each month all collections from the sale of tax stamps pursuant to Section 5402 of this title as follows:

# 1.

Two percent (2%) shall be remitted to Service Oklahoma for deposit to the credit of the General Revenue Fund of the State Treasury; and

# 2.

Ninety-eight percent (98%) shall be distributed as if the funds had been collected as ad valorem tax where the farm implement dealer's business is located.
Funds received by taxing jurisdictions from this source shall be utilized as if the funds had in fact been generated by ad valorem taxes, including servicing of debt by sinking funds. On and after January 1, 1993, and at the end of each calendar year thereafter, the treasurer shall furnish a report to the county assessor, which shall show the total amount of in-lieu taxes authorized by Section 5401 et seq. of this title and Section 2805 of this title and apportioned during the fiscal year to those taxing jurisdictions authorized to receive revenue from such in-lieu taxes. The assessor shall calculate annually the amount of assessed valuation that otherwise would be displaced by such in-lieu tax, by dividing the total amount of revenue derived from such tax apportioned to each taxing jurisdiction by the actual millage rate levied by each taxing jurisdiction during the fiscal year. The assessor shall add the result of that calculation to the actual assessed valuation of each taxing jurisdiction to determine the new adjusted assessed valuation of each taxing jurisdiction, and such adjusted assessed valuation shall be used for all purposes, including the determination of debt limits, in the following fiscal year whenever the term "assessed valuation" is required to be used.

Amendment history

Added by Laws 1991, c. 149, § 4, eff. Jan. 1, 1992. Amended by Laws 1992, c. 27, § 1, eff. July 1, 1992; Laws 1993, c. 146, § 26; Laws 2025, c. 171, § 76, eff. July 1, 2026.

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