Oklahoma Homestead Exemption?

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Dave70968

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I don't know about that, I got a house and it was valued almost twice what I payed for it.
I think Cleveland county is one of the high ones.
Assessment is generally done at the time of purchase, and homestead property has a cap on how much the value can be increase per year. Mr. Snell's statement about "bought 25yr ago" is the reason it's "undervalued" against current market conditions; were he to sell it, it would be reassessed without bound.
 

SoonerP226

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Assessment is generally done at the time of purchase, and homestead property has a cap on how much the value can be increase per year. Mr. Snell's statement about "bought 25yr ago" is the reason it's "undervalued" against current market conditions; were he to sell it, it would be reassessed without bound.
There is a cap, so Cleveland County pushes the cap 'til they get you to the level of usury they want.

I am not a fan of the Cleveland County Assessor's office.:explode::rant:
 

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