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County presenters warn proposed caps and SJR 39 could slow future property tax growth
Summary
Presenters told the Oklahoma County Budget Evaluation Team that proposed statutory caps (mentioned as SJR 39) and changes to homestead reimbursements could cut future growth in assessed value, reducing projected county revenue and prompting monitoring of the bill at the statehouse.
Presenters for Oklahoma County told the Budget Evaluation Team on April 7 that proposed changes to state limits on valuation increases could materially reduce the countys future property-tax growth.
A presenter reviewing assessed values said the countys current overall estimated increase is about 2.82%, driven in part by increments set aside in tax-increment projects. "If those caps change, youre going to see a significantly less growth than the…
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