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Oklahoma State Chamber launches half-million dollar campaign against intangible property taxes

If voters approve State Question 766 on Nov. 6, businesses and individuals will be able to deduct intangible property from their property taxes. The State Chamber is supporting the state question saying it will block the largest tax increase in state history.
BY MEGAN ROLLAND mrolland@opubco.com Published: October 14, 2012
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“These communities, many of them cannot finance the improvements to their infrastructure without paying higher interest rates,” he said. “It's really a way to save the taxpayers money by securing a lower interest rate.”

The Yes on SQ 764 campaign has raised $48,000 as of the last campaign report in September. The largest donations include $15,000 from BancFirst Corporation, $10,000 from The Chickasaw Nation, $5,000 from BOK Financial Corporation PAC, and $5,000 from Rick Smith with Municipal Finance Services Inc.

Morgan said it's hard to run a statewide campaign on such a small ballot, but they will work on educating voters about the issue and what it could mean for local municipalities.

Ponca City Mayor Homer Nicholson is also urging voters to approve the bonding capacity for the OWRB.

“This is a state question that there is a 99.9 percent it will never cost anybody a penny unless a city defaults on a loan,” he said. “It's important the public understands this is a no-brainer.”

Nicholson said several water and sewer line improvement projects need to be done in Ponca City that would benefit from this financing option.

Polls have been conducted on both issues, Morgan said, and they generally have shown voters are favorable to learning more about the issues and approving them.

Other controversial ballot measures have yet to have anyone formally organize around the issue.

Both the NAACP and the ACLU are opposed to a state question that would prohibit the use of affirmative action in all state hiring and contracting, but neither has established a campaign fund for opposition to State Question 759.