The Lincoln County Assessor’s office will begin taking exemption applications and personal property assessments on Monday, Jan. 4, 2021, according to Assessor Jackie Holcomb. The annual exemption and assessment period will continue until March 15, 2021.
To make the assessment process more convenient, and to serve as a reminder, the assessor’s office will mail information to property owners on Thursday, Dec. 31. Property owners can then assess in person or by mail.
Holcomb said that Oklahoma law requires all personal property be listed and assessed each year during the Jan. 1 through March 15 assessment period. Among the property that must be listed and assessed are tractors, farm machinery and equipment and business inventories, fixtures and equipment.
The Assessor said state law defines mobile homes located on another person’s land as personal property and must also be listed and assessed every year.
Personal property not listed before the March 15 deadline must be assessed with a valuation penalty as required by law.
Applications for homestead exemption, double homestead exemption, senior valuation freeze and personal property mobile home exemptions must also be filed no later than March 15 to be effective for 2021.
All qualified Lincoln County homeowners should file for homestead exemption in order to save from $75 to $100 on their 2021 tax bill. To qualify for the exemption the property owner must own their home and be living there on Jan. 1, 2021.
Property owners that qualify for homestead exemption may also qualify for an additional or double homestead exemption if their total gross household income for 2020 was $20,000 or less.
The Assessor said that property owners at least 65 years of age, with a gross household income of $61,600 or less in 2020, are eligible to apply for the Senior Valuation Freeze. This property tax limitation freezes the assessor’s valuation on the applicant’s homestead property from any increases, unless the property is improved or sold.
Any person 62 years of age or older, with a gross household income of $30,800 or less in 2020, that owns and lives in a mobile home located on someone else’s land may qualify for a personal property mobile home exemption saving qualified taxpayers $150 to $200.
Holcomb said that 100% disabled veterans that have not applied should apply for an exemption that will exempt all the real estate tax on their homestead property. Qualified veterans must have a letter from the Department of Veterans Affairs confirming their eligibility.
Although Oklahoma law does not require assessors to visit towns to meet property owners to take assessments and exemption applications, Lincoln County will continue to visit towns in the county, in order to make the process easier and more convenient for county property owners. This could change due to Covid-19 restrictions so check with the local site or the assessor’s office to make sure the local site is open.
In addition to continuing the county visits, the assessor’s office in the Lincoln County Courthouse is open from 8:15 a.m. until 4:30 p.m., Monday through Friday-Saturday, March 6, and Saturday, March 13, from 8:30 a.m. until 12:00 noon. In order to promote a healthy environment, only two people will be allowed in the office at one time. Chairs will be spaced throughout the courthouse hallway for those waiting. She said it is preferred that customers wear a mask when entering the office.