Storm timing saves taxes, assessor says
Published: May 13, 2003
Timing was a faint silver lining -- silver as in coin, as in taxes -- for people whose homes were destroyed or damaged by last week's tornadoes.
Had the twisters struck in June, homeowners' property tax bills, by law, would reflect the assessed value of intact homes -- whether or not they were flattened during the storms.
"If this damage occurred after May 31, the law requires that the assessment remain at the pre- storm level. This means that someone who lost their home to a tornado after May 31 would still pay their property taxes on a home that no longer exists," Oklahoma County Assessor Mike Means said.
Means said he has staff members hustling to make changes in assessments before the County Board of Equalization adjourns at the end of the month.
"My office staff is on the ground evaluating the damage to all residential and commercial property affected by the tornadoes to help lower assessments and taxes when possible," Means said. "We have to act fast. The Legislature has restricted the ability of assessors to provide tax relief for residents who are the victims of storm damage."
The deadline is not a new one. The law requires county boards of equalization to adjourn after a certain period that just happens to come during spring storm season.
The law prevents any changes from being made to assessments after the Board of Equalization adjourns because it could wreak havoc on school district budgets, Means said. He noted that with the economic downturn greatly affecting school funding already, the chances of any legislative relief in the wake of the storm are slim.
"Because of my office's experience after the May 3, 1999, tornado in Oklahoma City and the Washita County tornado and most recently ... we know what must be done to help get these storm victims the tax relief they deserve," Means said.
Means sent volunteers to help with reassessments after the Cordell tornado Oct. 9, 2001. His staff's experience with reassessing property after storm damage is growing, he said.
The difference can amount to several hundred dollars on a given home. The taxes on a $200,000 home, Means said, would be about $2,200. Taxes on a $30,000 lot alone -- if the home on it was razed -- would be about $330.
"Oklahoma County residents suffering damage will have their reassessments reduced," Means said. "County business and residents who suffered damage from the twisters will be notified their property taxes are being reduced to reflect the impact on property values and assessments caused by the storm.
"My field staff will be completing the reductions in assessments to reflect the damage to these homes and businesses. We must act quickly to give these residents the property tax relief they need. Using our advanced computer technology, we will be able to complete this task quickly and efficiently."
By 5 p.m. Monday, officials had determined that 108 residences in Oklahoma County were damaged in the Thursday night tornado, said Larry Stein, special projects director for Means.
Of those, 38 were destroyed; 14 had up to 50 percent damage; and 56 had damage of 25 percent or less. Stein said the value of the damage was approximately $17.4 million. He pointed out that the estimate includes value of structures only, not contents.
Officials had no figures for damage from the Friday night tornado, Stein said.
In another area of home values and storm damage, state Insurance Commissioner Carroll Fisher urged patience on the part of homeowners, as well as people with vehicles damaged in the storms.
Fisher said he will help the insurance industry to resolve claims resulting from the outbreak
"I realize there will be situations in which people aren't happy or have questions about their settlements," he said. "The Oklahoma Insurance Department is here to help resolve disputes and answer questions."
The Insurance Department can be reached locally
at 521-2991. The toll-free number in (800) 522-0071.
