Property Ownership
Oklahoma's property tax (ad valorem tax) is administered by which government level?
AFederal government through the IRS
BState government through OREC
CCounty government through the county assessor and treasurer✓ Correct
DMunicipal government through the city finance department
Explanation
Ad valorem (property) taxes in Oklahoma are administered at the county level. The county assessor determines assessed value, the county excise board sets the mill rates, and the county treasurer collects the taxes.
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Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Math Concepts
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