Farm Personal

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Is farm equipment taxable as personal property?
Yes. All farm equipment which is located in the state of Oklahoma, shall be listed and assessed as other personal property in the county which the equipment is located as of January 1st of each year. The following are examples of taxable farm equipment:

  • Tractors, Box Blades, Brush Hogs
  • Swathers, Discs, Cultivators
  • Combines, Balers

How do I apply for an Agricultural Exemption Permit?
When listing your farm equipment with the County Assessor between January 1st - March 15th of each year, the County Assessor will fill out an Agricultural Exemption Permit form provided by the Oklahoma Tax Commission. After the treasurer’s office verifies that all personal taxes have been paid, one copy is retained by the county assessor, one copy of the form will be sent to the Oklahoma Tax Commission. They will issue the Agricultural Exemption Permit number.

How does it benefit me applying for this Exemption Permit?
The benefit to filing for this permit is not having to pay sales tax on farm supplies and equipment 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.

When will my permit expire?
The Agricultural Exemption Permits are good for three (3) years from the date of issue. If you lose your Agricultural Exemption Permit, you can call the Oklahoma Tax Commission for a replacement copy. Their phone number in Oklahoma City is (405) 521-4614.

Am I required to list my farm assets with the Assessors office if I am not interested in the Agricultural Exemption Permit?
Yes. By Oklahoma statute, the taxpayer is required to list all farm personal property with the County Assessor by March 15 of each year. After March 15, the listing is delinquent and a penalty of 10% of the assessed valuation is added. After April 15, a penalty of 20% of assessed valuation is added. If no listing takes place, an arbitrary value will be applied to the taxpayer account.

The Individual Personal Property (OTC 924) form can be found here924