County Question?

County Question
Proposition

Shall the household goods of the heads of families and certain livestock employed in support of the family located within McCurtain County be exempt from personal property taxation and adjust the ad valorem millage rate to make up for revenue lost due to the tax exemption?

FOR THE PROPOSITION - YES < -
AGAINST THE PROPOSITION - NO < -
DUH I DON'T KNOW WHAT THIS MEANS - ? < -

Oklahoma voters, in 1992, passed a constitutional amendment giving counties the option to abolish taxes on household furniture and livestock. Fifty-nine of the state’s seventy-seven counties have abolished the tax. The tax is figured based upon the value of the home. Entities such as schools that benefit from the tax should not lose revenue. If the proposition passes, the millage rate will be adjusted to make up for revenue lost due to the tax exemption. Homeowners would save money while businesses and public utilities would see a slight increase.

Example: Say tax on a $100,000 home is $899 and the personal property tax is $96 ($899 + $96 = $995) . If the personal property tax is eliminated, then the tax on the $100,000 home would increase to $911, but the homeowner would save money due to the elimination of the personal property tax ($995- $911 = $84).The remainder of the lost millage would be picked up by the utility companies and commercial property.