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§ 1066. Tax exemption and payments in lieu of taxes

Oklahoma Statutes AnnotatedTitle 63. Public Health and Safety

Oklahoma Statutes Annotated
Title 63. Public Health and Safety (Refs & Annos)
Chapter 40. Public Housing
Housing Authorities Act
63 Okl.St.Ann. § 1066
§ 1066. Tax exemption and payments in lieu of taxes
The property and funds of a housing authority are declared to be used for charitable purposes and to be public property used for essential public and governmental purposes, and such property and the authority are exempt from all taxes, including sales and use taxes and special assessments of the state or any state or local public body. In lieu of taxes on its property an authority shall agree to make such payments to the state or any state or local public body as the governing body of the city or county finds consistent with the maintenance of the low-rent character of housing projects and the achievement of the purposes of this act,1 provided that not less than one-half ( ½ ) of the annual amount of such payment in lieu of taxes shall be paid to the school district within which the property of the housing authority is located. The amount of money collected under the provisions of this act shall not be considered as chargeable income to the district receiving such funds. The tax exemption provided by this section does not apply to any portion of a project used by a profit-making enterprise, but in taxing such portions appropriate allowance shall be made for any expenditure by an authority for utilities or other public services which it provides to serve the property.

Credits

Laws 1965, c. 251, § 16, emerg. eff. June 18, 1965; Laws 1969, c. 341, § 1, emerg. eff. May 8, 1969.

Footnotes

Title 63, § 1051 et seq.
63 Okl. St. Ann. § 1066, OK ST T. 63 § 1066
Current with emergency effective legislation through Chapter 3 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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