OK SJR49

Proposes amending Section 8 of Article X of the Oklahoma Constitution to change how property is valued for ad valorem (property) taxation for certain taxpayers

Beginning January 1, 2017, the State Board of Equalization would determine taxable value of all real and personal property owned by taxpayers who claimed tax incentives in the immediately preceding tax year

Shifts property valuation authority from county assessors to the State Board of Equalization specifically for taxpayers utilizing tax incentives

Assessment ratios remain unchanged: tangible personal property at 10-15% of fair cash value, real property at 11-13.5% of fair cash value

Authorizes the Legislature to define "taxpayer who has claimed a tax incentive" and enact implementing legislation