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2008 Capitalization 2008 Capitalization Rate StudyRate Study
Oklahoma Tax Commission Oklahoma Tax Commission Ad Valorem Division Ad Valorem Division
August 2008August 2008
Public Service ValuationPublic Service Valuation
Receive approximately 255 company Receive approximately 255 company renditionsrenditions
Valuation of $11 Billion FCVValuation of $11 Billion FCV
Assessed Value $2.5 BillionAssessed Value $2.5 Billion
Approximately $220 Million tax dollarsApproximately $220 Million tax dollars
Public Service ValuationPublic Service Valuation
Public ServicePublic Service----13.5% of State Ad 13.5% of State Ad Valorem Tax Base.Valorem Tax Base.
Equal to Tax Base of Cleveland, Equal to Tax Base of Cleveland, Canadian, and Comanche.Canadian, and Comanche.
About 8 times larger than Garfield. About 8 times larger than Garfield.
Public Service ValuationPublic Service Valuation
Public Service Valuation larger than any Public Service Valuation larger than any county except: Tulsa and Oklahomacounty except: Tulsa and Oklahoma
Public Service Valuation important portion Public Service Valuation important portion of county tax bases. of county tax bases.
11
Distribution of ValuationDistribution of Valuation
Update 2805 Valuation RecordsUpdate 2805 Valuation Records
Add Apportionment Data for 13,400 taxing Add Apportionment Data for 13,400 taxing districts (Schools, Counties, Careerdistricts (Schools, Counties, Career--Tech, Tech, EMS, and others)EMS, and others)
Respond to County Questions (75 in 2007)Respond to County Questions (75 in 2007)
Update our ProcessUpdate our Process
New Staff New Staff
Improve our ProcessImprove our Process
Respond to ChangesRespond to Changes
Update valuation processUpdate valuation process
October 2007 October 2007
October 2007 Valuation ConferenceOctober 2007 Valuation Conference
Industry and Interested PartiesIndustry and Interested Parties
New Trends or Economic ChangesNew Trends or Economic Changes
Suggestion for ProcessSuggestion for Process
Cap Rate ConferenceCap Rate Conference--March 2008March 2008
Preparation of Capitalization Rates Preparation of Capitalization Rates
Hear from Industry and Groups Hear from Industry and Groups
Review economic changesReview economic changes
Open, Transparent ProcessOpen, Transparent Process
Review of Cap RateReview of Cap Rate
Posted Cap Rate Study on OTC Web SitePosted Cap Rate Study on OTC Web Site
Ten day comment periodTen day comment period
Received CommentsReceived Comments
Final Cap Rate posted April 30Final Cap Rate posted April 30thth..
20082008--20092009
Similar Process for 2000 Tax YearSimilar Process for 2000 Tax Year
Written Comments from Interested PartiesWritten Comments from Interested Parties
Open Process Open Process
Cap Rate ConferenceCap Rate Conference
Thanks to Counties and IndustryThanks to Counties and Industry
Good attendance during Cap Rate Good attendance during Cap Rate processprocess
Good comments on processGood comments on process
Thanks to Counties for Submitting Thanks to Counties for Submitting Questions on Distribution. Questions on Distribution.
The EndThe EndAd Valorem Division Ad Valorem Division
Public Service SectionPublic Service Section