• Contact
Friday, June 6, 2025
  • Login
Oklahoma Business Voice
  • Home
  • News
    • All
    • Aerospace
    • Childcare
    • Education
    • Energy & Environment
    • Federal
    • Film & Television Industry
    • Finance
    • Health Care
    • Innovation
    • Issues Affecting Oklahomans
    • OBV One-on-One
    • Opinion
    • Politics & Elections
    • Taxes & Budget
    • Tribal
    • Workforce Development
    Photo from Vigilant Aerospace Systems

    Oklahoma drone technology company gets big Air Force contract

    Rep. Suzanne Schreiber

    Childcare bill now Oklahoma law after legislature overrides Stitt veto

    Governor Kevin Stitt

    ODMHSAS head fired, Pro Tem Paxton criticizes Gov. Stitt for ‘smear’

    Governor Kevin Stitt

    Legal reforms now Oklahoma law, Gov. Stitt says good for business

  • Sign UpNEW
  • About
  • Contact
  • Advertise With Us!
No Result
View All Result
  • Home
  • News
    • All
    • Aerospace
    • Childcare
    • Education
    • Energy & Environment
    • Federal
    • Film & Television Industry
    • Finance
    • Health Care
    • Innovation
    • Issues Affecting Oklahomans
    • OBV One-on-One
    • Opinion
    • Politics & Elections
    • Taxes & Budget
    • Tribal
    • Workforce Development
    Photo from Vigilant Aerospace Systems

    Oklahoma drone technology company gets big Air Force contract

    Rep. Suzanne Schreiber

    Childcare bill now Oklahoma law after legislature overrides Stitt veto

    Governor Kevin Stitt

    ODMHSAS head fired, Pro Tem Paxton criticizes Gov. Stitt for ‘smear’

    Governor Kevin Stitt

    Legal reforms now Oklahoma law, Gov. Stitt says good for business

  • Sign UpNEW
  • About
  • Contact
  • Advertise With Us!
No Result
View All Result
Oklahoma Business Voice
No Result
View All Result
Home News Finance
Bill that allows installment prepayments on ad valorem taxes passes Oklahoma House of Representatives

Business concept about AD VALOREM TAX with sign on the page.

Bill that allows installment prepayments on ad valorem taxes passes Oklahoma House of Representatives

Hicham Raache by Hicham Raache
March 24, 2023
in Finance, News, Politics & Elections, Taxes & Budget
Reading Time: 2 mins read
Share on FacebookShare on Twitter

OKLAHOMA CITY (OBV) – A bill that allows Oklahomans to pay their ad valorem taxes in numerous installment prepayments passed the Oklahoma House of Representatives.

The House approved House Bill 2003, written by Rep. Jeff Boatman, R-Tulsa, on Thursday with a 52-31 vote.

The bill sets procedures for county treasurers to accept 12 installment payments for the prepayment of ad valorem taxes. Through the bill, treasurers have the discretion to accept installment prepayments. Qualifying taxpayers are required to submit written notice of their desired payment method to the state treasurer by Jan. 15 each year.

Being able to pay ad valorem taxes can be difficult on individuals who have paid off their mortgage, often senior adults, Boatman said in an interview with Oklahoma Business Voice.

“Because they’ve paid off their mortgage, the escrow services that are typically available to people that have a mortgage aren’t available to them anymore – there’s not that option to make your taxes and insurance part of your monthly mortgage payment – so, they end up stuck with either one or two large lump sum payments,” Boatman said. “You either have to get it all paid by the end of December or half of it by the end of December and half of it by April 1st. So, they end up with either one or two of those large payments. And what I’m trying to do with this bill is just allow them to send in prepayments so the county gets the money early.”

The bill enables Oklahomans to make regular monthly prepayments and work those expenses into their budget instead of having to come up with one or two large lump sum payments.

Treasurers can deposit the installment payments into an interest-bearing account and keep the interest that they earn to offset the cost of providing the service, according to Boatman.

“So, there wouldn’t be interest to the consumer, but there is a cost management mechanism for the county. The rates would just be whatever prevailing rates were at their bank of choice,” Boatman said.

Oklahomans who have accounts with delinquent taxes, accounts with an ongoing valuation protest, taxes paid through an escrow account and public service corporations are not eligible for installment payments.

HB 2003 next moves to the Oklahoma Senate for consideration.

Tags: Ad Valorem TaxOklahomaOklahoma House of RepresentativesRep. Jeff Boatman
ShareTweetShare
Previous Post

Bills to strengthen childcare access, keep parents in workforce succeed in Oklahoma House of Representatives

Next Post

These Oklahoma Communities Need Childcare. City Rules Could Make It Harder to Find

Related Posts

Photo from Vigilant Aerospace Systems
Aerospace

Oklahoma drone technology company gets big Air Force contract

June 5, 2025
Rep. Suzanne Schreiber
Childcare

Childcare bill now Oklahoma law after legislature overrides Stitt veto

June 3, 2025
Governor Kevin Stitt
News

ODMHSAS head fired, Pro Tem Paxton criticizes Gov. Stitt for ‘smear’

June 2, 2025
Governor Kevin Stitt
News

Legal reforms now Oklahoma law, Gov. Stitt says good for business

May 30, 2025
Firehawk Oklahoma Governor Kevin Stitt Will Edwards
Innovation

Firehawk rocket motor manufacturer building facility in Oklahoma

May 29, 2025
Governor Kevin Stitt
News

Gov. Stitt signs Oklahoma personal income tax cut into law

May 29, 2025
Next Post
These Oklahoma Communities Need Childcare. City Rules Could Make It Harder to Find

These Oklahoma Communities Need Childcare. City Rules Could Make It Harder to Find

Oklahoma Business Voice

© 2023 Oklahoma State Chamber.
Powered by High Five Media.
Privacy Policy

Navigate Site

  • Home
  • News
  • Sign Up
  • About
  • Contact
  • Advertise With Us!

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
  • Sign Up
  • About
  • Contact
  • Advertise With Us!

© 2023 Oklahoma State Chamber.
Powered by High Five Media.
Privacy Policy

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.