Trying To Stop Property Taxes From Increasing

By Rep. Jason Murphey

During the last few days, chances are that you received your property tax bill. I would also guess that this bill reflects a 5% increase in your assessment over last year. This is the time of year when my office receives calls from citizens experiencing the challenge of coming up with a larger than ever property tax payment. Second only to the issue of road improvements, I believe the issue of higher property taxes is the one I hear about the most. I believe the property tax to be the most unfair form of taxation. This tax punishes a person for simply daring to own something and taxes them over and over again for the same property. In 2007, I co-authored a bill by Oklahoma City State Representative Guy Liebmann which would have decreased the 5% assessment increase cap to 3% or the increase in the consumer price index, whichever is lower. Liebmann's bill passed in the House but, unfortunately, has been held up in the Senate. It is my hope that the Senate will take action on the bill this year, as it is clear that people are getting more and more frustrated with the increases they are experiencing. As property taxes continue to rise, more citizens are being priced into buying a house beneath what they could otherwise afford. Others are faced with the dilemma of whether to sell their property or pay the high tax rate. The challenges faced by individuals with fixed incomes is forcing the legislature to make exceptions to the number of people who have to pay increased rates. These exceptions place the burden of paying property tax onto a shrinking base of property owners. Read more...

Deep Drilling Tax Credit Making Difference in Economy

By Sen. Jay Paul Gumm, D-Durant

Hello again, everybody! Two years ago this week, several extreme left-wing activists from Oklahoma City passed out leaflets across our area attacking my support for a particular bill.

The bill, which I carried on the Senate floor, was a tax incentive benefiting companies that drill deep gas wells. These are the very gas wells being drilled all across the Senate district I represent and much of southeastern Oklahoma. These wells might not have been drilled except for the incentives I support and these activists oppose.

The drilling is happening in what is called the Woodford Shale formation. This is not a new gas discovery; geologists have known for some time this formation likely contained a great deal of natural gas. Even though everyone was confident the gas was there, it had to be financially feasible to get or it would stay locked in the ground.

The deep drilling necessary to reach this gas is among the most expensive and financially risky. The tax credit helped make the drilling more attractive for the drilling companies. Read more...

Labels: OK Legislator's Blog, Rep. Jason Murphey, Sen. Gumm