The Norman Transcript

State/Region

March 3, 2013

Schools fear loss of intangible property tax

(Continued)

TULSA —

Taken altogether, the circumstances are shaping up to be “potentially a giant crisis for school funding that’s going to hit midyear of next year,” Crawford said. “Even if the Legislature put $100 million more into the (state aid) formula, we’re not going to get enough to not have a negative funding year.”

Tulsa County Assessor Ken Yazel said his office is engaged in the guessing game as well, and the implications shouldn’t only be of concern to schools, CareerTechs and county governments, the direct recipients of the affected tax collections.

“Our estimate is for $1.5 million to $5 million less for our 14 separate school districts. That’s a big, big guess. I’ve got to hope that’s all it is because nobody knows for sure,” Yazel said.

“There is no doubt taxes will go up for the average taxpayer. It’s guaranteed by that vote having passed - everybody’s tax rate will go up because everybody has to pay a larger amount when you have less centrally assessed value.”

———

Information from: Tulsa World, http://www.tulsaworld.com

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