Manufactured homes valued and assessed as real property; lawful repossession. The amount of taxes due on a manufactured home being repossessed by the holder of a perfected security interest, or his agent, which is located upon real property that qualified for a homestead January 1st, or is granted prior to repossession, will be calculated as follows:

1. (1) The assessed valuation of the manufactured home will be determined separately and apart from the land and other improvements;
2. (2) The appropriate mill levy will be applied against the assessed valuation of the manufactured home to determine the taxes due;
3. (3) The amount of homestead value in excess of the land value or other improvements shall not be applied to the assessment of the manufactured home.

Amended at 12 Ok Reg 2603, eff 6-26-95

Amended at 15 Ok Reg 3451, eff 7-11-98

Amended at 19 Ok Reg 1205, eff 5-11-02