Update from the Kay County Assessor’s office

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Update from the Kay County Assessor’s office

Fri, 01/08/2021 - 13:32
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Due to Covid-19, the Kay County Assessor’s office will no longer be going to the cities in Kay County for annual assessing, normally held in February of each year. Below is a brief description of the exemptions the Assessor offers. The deadline for filing an application to each exemption is March 15, 2021. For any additional information, contact the Assessor ‘s office.

• Homestead Exemption saves an average of $90 per year on property tax. You must own and reside in your home on January 1and file an application by March 15 of the current year to qualify. Applications received after March 15th will be applied to the following year’s tax roll. Home owners are required to notify the Assessor’s office if they no longer qualify for the exemption.

• Filing for Additional Homestead Exemption can double your savings. To qualify, the household income must not exceed $20,000 per year. Applicants 65 and older do not need to re-apply once an application has been approved.*

• The Senior Valuation Limitation is an income-based exemption and freezes the assessed value of the property. The exemption is no longer valid if the property is sold, remodeled, or is no longer occupied. Applicants must be 65 and older and the gross income cannot exceed $58,600 for the previous year. TAX AMOUNT MAY CHANGE DUE TO MILLAGE ADJUSTMENTS.

• A Manufactured Home Homestead exemption is available for persons 62 years and older, head of household, a resident of and is domiciled in Oklahoma during the entire preceding calendar year, and gross household income did not exceed $29,300.

• An application for a Refund of Homestead Property is available for individuals whose annual income did not exceed $12,000 for the previous year. This form can be obtained in the Assessor’s office and sent to the Oklahoma Tax Commission on or before June 30, 2021.

• A Five-year Manufacturing exemption is a business exemption available by the State of Oklahoma to attract new business and encourage existing manufacturers to expand. Call to request an informational packet.

• Business and Farm Personal Property Rendition Schedules are mailed on the first business day in January each year. It is the responsibility of the tax payer to make adjustments, sign, date,and return to the Assessor’s office by March 15, 2021. Any schedules post marked after March 15th will acquire a penalty . The Agricultural Sales Tax exemption application is available online through the Oklahoma Tax Payer Access point at oktap .tax .o k . gov . Call the Assessor’s office for questions.

• Mobile Home and Lease Land owners will receive a Personal Property Rendition beginning January 4, 2021. The Assessor must be notified of any changes, including ownership .

*Verification of the previous years income is to be provided to the Assessors office by the applicant. All Applications and assessments will be accepted in the Kay County Assessors office.