HB 2810 Summary

• Modifies Oklahoma Ad Valorem Tax Code provisions (68 O.S. 2011, Sections 2817 and 2871) relating to property valuation and damage assessments

• Allows county assessors to adjust property values when improvements or land are damaged or partially impaired by fire, lightning, storm, floods, or similar causes, with adjustments made up until publication of the "Assessor's Report to the Excise Board"

• Establishes that after the assessor's report is published, only the board of tax roll corrections may make value adjustments following certification of the tax roll, with required advance notice to property owners

• Limits board of tax roll corrections authority to approving or rejecting the county assessor's submitted value adjustments rather than modifying them

• Becomes effective November 1, 2014