Oklahoma Claim For Credit or Refund of Property Taxes

State

Oklahoma

Year

2007

Variations in Receipt of Benefit

Benefit Varies with Income

Benefit Type

Circuit Breaker

Benefit

The benefit relieves property taxes exceeding a threshold of 1% of income if income is $12,000 or less. The maximum benefit is $200. The benefit is disbursed as an income tax credit or as a direct rebate if the claimant is not required to file an income tax return.

How is Benefit Disbursed

Credit to the income tax bill

Eligible Property Type

Residential

Characteristics of Eligible Property

Only residential property is eligible for this program.

Eligibility Criteria

Age

Disability

Homeowner

Income Ceiling

Description of Eligibility Criteria

The household income ceiling is $12,000. Eligibility is restricted to homeowners age 65 and older, or disabled.

Local Option in Adoption of Program

Local government is unable to exercise an option

Local Option Regarding Program Features

No local option regarding program features

State Funding for Local Tax Loss

State reimburses all of the local government tax loss

Description of State Funding for Tax Loss

The state disburses the benefit directly to the claimant as a credit on state income taxes. If the claimant is not required to file a state income tax return, a separate form can be filed to request a refund.

Record ID

OK101_RR07

Footnotes

Sources

Okla. Stat. § 68-2904 ~ § 68-2911 (in effect for 2007)

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