Oklahoma Property Taxes for Economic Development, State Question 697 (2002)
The Oklahoma Property Taxes for Economic Development Amendment, also known as State Question 697, was on the November 5, 2002 ballot in Oklahoma as a legislatively-referred constitutional amendment, where it was approved. The measure allowed an election to be called to approve the use of up to one-fourth of county property taxes from previously exempt business property for economic development.
|Oklahoma State Question 697 (2002)|
Election results via: Oklahoma Secretary of State
Text of measure
The official ballot title appeared as:
|“||This measure amends the Oklahoma Constitution. It amends Section 6B of Article 10. Businesses pay property tax on business property. Some kinds of business have an exemption from property tax for up to five years. After the exemption expires, the business pays property tax. Property taxes are used to support Counties and other local governments. If this measure passes, an election could be called. If voters approve, up to one-fourth of county property tax from previously exempt business property could be used for economic development. Only property tax a county receives could be used in this way. Other local governments that receive property tax would get their full amount of property tax from business property.||”|
The full text of the measure can be read here.
- Oklahoma 2002 ballot measures
- 2002 ballot measures
- List of Oklahoma ballot measures
- History of Initiative & Referendum in Oklahoma
- Oklahoma Secretary of State, "State Questions," accessed November 25, 2014
- Oklahoma Secretary of State, "State Question 697," accessed November 25, 2014
- Note: This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.
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