Like many others, im not for adding or expanding taxes. I think we would be better served if the citizens rejected the question and let the small business lobby for change rather than lose the revenue the state now receives from large business.
I also dont think this law could ever be enforced to any degree, except by large companies that have and claim intangible property as assets.
And there in lies the problem, you don't "THINK" it could be enforced, however you can only trust what is in writing and in black & white it says they can assess a tax on my business logo, but product designs, my operation processes and other specific areas that make my business what it is. Why would I even give them the chance think about this again. Right now we have the ability to do away with this option, I'm taking the right now and not giving them anymore time to do away with this!
Opinions from the OK State School Boards Ass'n
What it would do if passed (SQ766):
SQ 766 if passed would exempt all intangible personal property from ad valorem taxation.
According to the Oklahoma Tax Commission, the passage of SQ 766 would result in an estimated $50 million dollar statewide impact which would cost common education $32 million and career and technology schools over $10 million.
The loss of this revenue stream for education will have to be made up from some other revenue source. Some districts have budget items that cannot be cut, such as bond issues and legal judgments. Local assessors will have to increase property taxes to offset that lost revenue, in order to insure that those bond payments and legal judgments are paid.
So we passed Casino's to help fund education and what do you know, everyone get's rich but schools are still under funded... so let's screw small business since we can't get it from big business. Sorry but NO. My wife is a teacher and although I feel for the school situation, if it was't for my small business, we wouldn't have anything. I don't feel like giving anymore then the 50% I get now in taxes. Go even give the government the opportunity to think about taxing the specifics that make my business unique is like letting a wolf in the hen house. NOT GOING TO HAPPEN and to hear the Teachers UNION try and spin this is a JOKE. Sorry but you have bigger problems in education all due to the union. Piss poor teachers who continually fail at their job are allowed to keep teaching due to tenure. Try doing that in a free market society, won't happen you get fired. Good teachers excel when you get the loosers out of the way.
What would happen if it fails?
Nothing would change in the taxation for fiscal year 2014. The legislature passed a trailer bill that sends the proposal back to the legislature to try and resolve in another way.
Not passing SQ 766 would NOT result in a tax increase.
That is a very funny. They won't go up tomorrow but they will go up. To believe anything else is a JOKE. This came to be by a judical question, so let's end this once and for all and get oust the justices that brought this on... This is not good for anyone who actually works to make it on their own.
SQ 765 - Repeals Sections of Oklahoma Constitution Related to Department of Public Welfare
What is SQ 765?
SQ 765 is a question on the November ballot that asks Oklahomans if they want to repeal language in the Oklahoma Constitution regarding the Department of Human Services.
What does that mean?!?!?
The ballot language is ambiguous and unclear. The ballot title provides that passage of this measure "abolishes the Oklahoma Department of Human Services, the Oklahoma Commission of Human Services and the position of Director of the Oklahoma Department of Human Services." However, the authors of the measure state that passage will only abolish the "Oklahoma Commission of Human Services." The ballot language does not address what will happen immediately upon passage of the measure.
What it would do if passed:
This is uncertain. A trailer bill was passed by the Oklahoma legislature to address issues associated with the measure. However, the Attorney General did not rewrite the ballot title upon request by the former Speaker of the House. The actual impact of passage of this measure is unclear.
What would happen if it fails?
Nothing would change. The Department of Human Services, the Oklahoma Commission of Human Services, and the position of Director of the Oklahoma Department would remain within the Oklahoma Constitution.
Sounds like a great plan to me. Scrap DHS so we can find something that removes the dependency on this agency and let's get some positive way to help those and enable them to help themselves.
SQ 759 - Affirmative Action Programs
What is SQ 759?
SQ 759 is a question on the November ballot that asks Oklahomans to eliminate affirmative action programs.
What does that mean?!?
Affirmative action programs would only be allowed in very limited circumstances in employment, education, and contracting.
What it would do if passed:
For the most part, any affirmative action program would be prohibited. Exceptions would exist for court orders, federal program/grant requirements, or where a bonafide condition of employment exists.
What would happen if it fails?
Language prohibiting affirmative action would not be within the Oklahoma Constitution.
Again sounds GREAT. I never liked affirmative action and in todays society, we need to stop rewarding on the basis of skin color. Nothing divides a group more then racism and this nothing more then government approved racism.
SQ 758- Lowers Cap on Homestead and Agricultural Property
What is SQ 758?
SQ 758 is a question on the November ballot that asks Oklahomans if the cap on fair cash valuation of homestead and agricultural property should be lowered from 5% annually to 3% annually.
What does that mean?!?
SQ 758 would change the limit on how much taxes can be increased on homestead and agricultural property. At present, the allowable increase on the fair cash value of homestead and agricultural property for taxation purposes is limited to a 5% increase annually. SQ 758 proposes limiting that annual increase to 3%.
What it would do if passed?
SQ 758 would decrease the cap on how much agricultural or homestead property taxes can be increased annually from 5% to 3% of the fair cash valuation of that property.
Property taxes are a major source of revenue for education. Lowering the allowable increase in property valuations would likely only benefit those whose property values are increasing enough to exceed the cap. People who are living in communities who property values remain steady or decline would receive little or no benefit from this reduction.
Passing SQ 758 would result in a loss of approximately $5,600,000.00 to common education and career technology schools (based on Oklahoma Tax Commission Estimates 2012). Like SQ 766, if this passes, the loss of revenue stream to school districts will have to be made from another revenue source.
What would happen if it fails?
Nothing would change. Homestead and agricultural property would still be taxed at a maximum allowable increase of 5% annually.
Not passing SQ 758 would NOT result in a tax increase.
Nice to know I can make improvements to my home and not be penalized for it. Cap this at 3% and actually help home ownership to flourish!
These are thoughts for a debt free, college educated, self employed, father of three who wants to ensure his kids have the same opportunities he had without legalized gangs (Unions) or the government putting their hand in for more and more.