Tulsa County Assessor Ken Yazel is reaching out to property owners who have sustained property damage as a result of the tornado that hit Tulsa early Sunday morning.
An Oklahoma statute allows for property (both real and business personal property) which suffers a functional loss to be reassessed for that year at the fair cash value of the property, taking into account the actual loss of functional use of the property caused by such damage. This applies to property that cannot be easily or readily restored.
“My office, with the aid of Chief Deputy John Wright, assisted the effort by the Assessors Association to enact this statute. Although we put value on property on January 1, the tax bill doesn’t go out until the following November. It doesn’t seem reasonable for people to sustain a devastating loss, and then soon after that they get a tax bill for unusable property. I believe this is beneficial for the taxpayers and hopefully will help them in their recovery.”
Property owners who believe they may qualify for storm damage relief should call the Tulsa County Assessor’s office at (918) 596-5100 for answers to questions and an application. Applications and details are also available online at assessor.tulsacounty.org.