Tax Break Tracker Individual Entry
Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.
State:
Oklahoma
Reporting Jurisdiction:
Oklahoma City School District I-89
Jurisdiction type
:
School district

Fiscal year ending In:
2019
Program name:
Ad Valorem Reimbursement Fund
Program purpose
:
Economic Development

Statutory authority
:
Oklahoma Statute Title 62, Section 193

Abating jurisdiction(s)
:
Oklahoma City

Applicable taxes:
Ad Valorem Tax
Method of abatement
:
Payment In Lieu of Tax

Provisions for recapture
:
(not specified)

Gross revenue loss
:
$2,031,000

Reimbursement / offset
:
$2,031,000

Net revenue loss
:
$0

Type of loss
:
Passive

Additional notes on dislosure:
During the year ended June 30, 2019, the amount of foregone tax revenues as a result of this exemption was $2,031, all of which was reimbursed by the State during the year ended June 30, 2019, in connection with the abated tax revenues.