Qualified assets, as defined in 68 O.S. § 2817.3, shall not be included in the valuation used in determining the fair market value of oil refineries if such property would qualify as exempt property pursuant to 68 O.S. § 2902, whether or not an application for such exemption is made by an otherwise qualifying manufacturing concern owning the property described by 68 O.S. § 2817.3. The County Assessor shall indicate on the permanent property record the amount of any valuation exclusion and any other information that the Assessor deems necessary.

Added at 21 Ok Reg 2563, eff 6-25-04

Amended at 34 Ok Reg 2040, eff 9-11-17