“That freezes the taxable value, it does not freeze the millage rate,” Tinsley said.
Disabled veterans can apply for an exemption from taxes.
“If you are a 100 percent disabled veteran and you have a letter from the VA saying that, you can file for that with us,” Tinsley said. “The VA sends those letters out. There’s really no question.”
The 100 percent Disabled Veteran’s Exemption is based on State Question 715, which passed November 2004. It became effective January 2006. The exemption applies to 100 percent of the fair cash value of homestead eligible property.
The property owner must be certified by USDVA as entitled to receive compensation at the 100 percent rate effective Sept. 23, 1998. The evaluation must be permanent with no future examinations scheduled.
“Currently, we have 1,057 disabled veterans that have applied,” Tinsley said.
The property owner must make application on OTC Form 998, available on the Cleveland County Assessor’s website, clevelandcountyassessor.us. Proof of certification and a photo ID is required with application.
The veteran must be Honorably Discharged with 100 percent Permanent Disability. This exemption extends to a surviving spouse, who is head-of-household.
For further information about exemptions call 366-0230.
Near the end of February, the Assessor’s Office will send out notices to anyone who has a value increase. Increases are the result of a visual inspection or other cause of the property value increasing or can be a result of the value cap. Because Oklahoma property has been capped at 5 percent (and with the recent election that has been lowered to 3 percent) some properties increase each year until they reach full market value.
“The new 3 percent cap applies to agriculture land and properties with homestead,” Tinsley said.
New construction on a parcel of land will also result in a value increase.
Tinsley said because property turns over frequently in Cleveland County, a high percentage of parcels are already at full market value but he anticipates 32,000 notices going out this year.
There are 110,000 land parcels in Cleveland County, he said.