Sunday, November 21, 2010

Dank Wants Vote On Two Property Tax Issues

By Barbara Hoberock/Tulsa World Capitol Bureau ~ An Oklahoma City lawmaker is renewing efforts to restrain the growth of property taxes.

Rep. David Dank, R-Oklahoma City, has introduced two measures that would allow state voters to consider proposals that failed to pass in previous legislative sessions.

House Joint Resolution 1001 would let voters decide whether property taxes for all seniors should be frozen regardless of income. Currently, property taxes for some seniors are frozen if they meet income criteria that vary from county to county. In Tulsa County, the limit is $59,300 and under, said Oklahoma Tax Commission spokeswoman Paula Ross.

House Joint Resolution 1002 would let voters decide to lower how much the fair cash value of a home can increase from year to year. Fair cash value determines how much a property owner pays in ad valorem taxes. If approved by voters, maximum increases would be lowered to 2 percent from 5 percent. Dank put the cost of the measures at between $12 million and $13 million.

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