When is the Oklahoma business personal property rendition due?
March 15. Under 68 O.S. 2836, anyone who fails to list all or part of their personal property for the year by March 15 is delinquent; property listed between March 16 and April 15 carries a 10 percent penalty on its assessed value, and property listed after April 15 carries 20 percent. Businesses file on Oklahoma Tax Commission Form 901, listing assets as of January 1.
How does Oklahoma value household goods for property tax?
By presumption. Under 68 O.S. 2817 the fair cash value of household personal property is set at 10 percent of the appraised value of the residential improvement it sits in, as of January 1, but the taxpayer may instead list the property at its actual fair cash value. When a home holds far less than the presumption implies, an itemized appraisal supports the lower figure.
Does Oklahoma divide marital property equally in a divorce?
No. Under 43 O.S. 121 the court divides property acquired jointly during the marriage as may appear just and reasonable, in kind or by setting it apart to one spouse with a payment to the other, and the statute sets no valuation date. A documented appraisal of the vehicles, collections, or business interest, timed to the case, gives the court a number to work from.