Posted: Tue 5:49 PM, Jan 01, 2013
Updated: Wed 8:58 AM, Jan 02, 2013
New Oklahoma laws take effect New Year's Day
New laws in Oklahoma will help save on taxes and reform a state agency.
Oklahoman's voted to approve two property tax breaks in November, but they go into effect today. Another law on the books for the first of the year is a change in how the Department of Human Services reports neglect and abuse.
Voters approved a lower cap for how much property value can increase in a single year. The previous cap was at 5 percent and is now at 3 percent. As of today state assessed businesses can write off their intangible property from state ad valorem taxes.
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