Farm Personal Property
How do I apply for a farm exemption permit?
You must list your farm equipment with the County Assessor between January 1st - March 15th of each year, the County Assessor will fill out a farm exemption permit form provided by the Oklahoma Tax Commission. Livestock, although not taxable in Oklahoma County must be listed along with equipment. This information will be transferred to the Tax Commission for permit approval. If it is denied, the OTC will send you a letter.
How does it benefit me applying for this Exemption permit?
The benefit to filling for this permit is not having to pay sales tax on farm supplies, equipment and fuel which is purchased for use on the farm.
How many acres must I farm to be considered eligible for the exemption permit?
If the land is being actively farmed, there is no restriction on the number of acres that you are farming. However, you are required to file a Schedule F with your income taxes.
Am I required to list my farm assets with the Assessor’s Office if I am not interested in the farm permit exemption?
All farm equipment that is used for farming, owned, leased or operated by the owner, will be subject to Ad Valorem taxation. Equipment owner must list all farm assets with the Assessor’s office with or without the intention of filing for a farm permit exemption.