Thursday, November 14th 2024, 10:47 pm
After early November tornadoes in the state, the Oklahoma County Assessor's Office estimated nearly $55 million in losses with damage to more than 400 structures, it told News 9 on Thursday.
"They've just suffered one of the worst catastrophes of their whole life by losing their house, then they get a bill from the county for property taxes,” said Larry Stein, Oklahoma County Assessor. “So, we changed the law to allow us to change that value and reduce their property taxes when there's a natural disaster storm or fire or anything else like this.”
Stein estimated property owners affected by the storms will save several hundred thousand dollars in property taxes.
The Oklahoma County Assessor's Office initially estimated nearly $60 million in losses with damage to more than 230 properties.
In a statement released on Thursday, the Oklahoma County Assessor’s Office stated:
“We are still documenting the damage from the November storms and tornadoes, and so far we have determined 231 properties partially damaged or destroyed and the damages are $57.9 Million and increasing as we complete our task,” Oklahoma County Assessor Larry Stein said.
“Our teams have been all across the area impacted by the rare early November 2-3 storm system which hit overnight. I’ve toured the areas and seen the incredible destruction and it is incredible and an amazing blessing everyone survived the storms with only minor injuries,” Stein said.
“If your home was damaged, you may not know if we have already documented the damage to your home. If you are wondering, you can always call our office at (405) 713-1201 and we can confirm if we have documented any damage to your property. We are doing our best to document and complete this task as soon as possible,” Stein said.
What Happens Next
“After the documentation of damage the assessor will report the damage to the Board of Tax Roll Corrections. When the property value is reduced or eliminated, the property taxes on the real property may also be reduced or eliminated. The bad news is the properties have been damaged or destroyed and families have suffered a devastating event. The Assessor’s Office CAN PROVIDE property tax relief. Currently we are documenting the damage which should save property owners more than $700,000 in property tax savings,” Stein said.
“Assessors made this legislative suggestion and the legislature approved the legislation after wildfires in Central Oklahoma in April of 2010. The fires hopscotched across the county destroying more than 100 homes and injuring more than 30 people. With this change in Title 68, homeowners would have suffered the loss of their home and have been required to pay the entire year’s property taxes on a home that was no longer there. This change was able to provide relief from natural disasters,” Stein explained.
As soon as more information is available, we will update and complete our report.”
November 14th, 2024
December 21st, 2024
December 21st, 2024
December 21st, 2024
December 23rd, 2024
December 23rd, 2024
December 23rd, 2024
December 23rd, 2024