Form Otc 952 – Fill Out and Use This PDF

The OTC 952 form, issued by the State of Oklahoma, is an application for a personal property tax exemption specifically designed for residents who own manufactured homes. It allows eligible individuals, particularly those aged 62 and over who meet certain income and residency criteria, to potentially receive a tax exemption, thereby reducing their financial burden. To understand if you qualify for this exemption and to submit your application, click the button below.

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Form Otc 952 PDF Details

The OTC 952 form, utilized by residents of Oklahoma, serves a critical role in supporting a specific demographic within the state—those who are 62 years of age or older, head-of-household, and owners of manufactured homes. This document is key to applying for a personal property tax exemption, aimed at easing the financial burden on eligible seniors. The process mandates that applicants accurately disclose their social security numbers, pertinent details about their manufactured home including the VIN and title number, as well as comprehensive income information from all household members. The form not only requires details on traditional income sources such as wages and rental income but also calls for disclosure of social security payments, veterans' disability payments, and other income types to ensure a thorough evaluation of the applicant's fiscal status. With a deadline for submission by March 15, or within a specific timeframe after receiving a valuation increase notice, the form facilitates an exemption that could alleviate up to $2,000 of the manufactured home's assessed value. To qualify, applicants must have resided in Oklahoma for the entire previous year and meet income thresholds, which compare to the greater of $22,000 or 50% of the county's median family income as determined by H.U.D. Moreover, the legislation behind this exemption underscores its aim to support elderly heads-of-households in maintaining financial stability while owning a manufactured home on leased land within Oklahoma.

Question	Answer
Form Name	Form Otc 952
Form Length	2 pages
Fillable?	No
Fillable fields	0
Avg. time to fill out	30 sec
Other names	OTC, providedbythissection, ParcelID, 68O

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OTC	State of Oklahoma		Applicant’s Social Security Number		Tax Year
	State of Oklahoma				Tax Year
	APPLICATION FOR MANUFACTURED HOME
	APPLICATION FOR MANUFACTURED HOME		Co-Applicants Social Security Number
952	PERSONAL PROPERTY EXEMPTION
952	PERSONAL PROPERTY EXEMPTION
	68 O.S. Sec. 2949		Title Number:
			Title Number:
Revised	Instructions on Reverse Side - Please Read Carefully
Revised	Instructions on Reverse Side - Please Read Carefully		VIN:
7-2012	Return to County Assessor by March 15		VIN:
	Return to County Assessor by March 15


First Name and Initial (if joint claimants, give irst names and initials of both)		Last Name		Birth Date		School
						District
Present Home Address (number and street, including lot number, or rural route)

City, Town, County, State and Zip

Parcel ID

Account Number

A.	Were you a resident of Oklahoma during the entire preceeding calendar year?	Yes	No


B.	Are you sixty-two (62) years of age or older?	Yes	No


C.	Do you reside in the manufactured home?	Yes	No


D.	Is the claimant the owner of the manufactured home?	Yes	No


E.	Is the land owned by the claimant?	Yes	No


F.	Is the claimant head-of-household?	Yes	No

PART I. - Enter all income received by you, your spouse and members of your household for the Previous Year

Gross Household Income

1.Enter total wages, salaries, fees, commissions, bonuses, tips, dividends, royalties,income from

	partnerships, estates, trusts, and gains from the sale or exchange of property	1.
2.	Enter gross rental, business and farm income	2.
3.	Enter total interest income received	3.
4.	Other (specify)	4.

5.All other household income (include all other income received from each of the sources

listed below)		5.
a.	Social Security payments and retirement beneits	a.
b.	Veteran’s disability payments	b.
c.	Capital gains	c.
d.	Other pensions and annuities	d.
e.	...............................................................Worker’s compensation and employment payments	e.
f.	Loss of time insurance
g.	Support money	g.
h.	Alimony	h.
i.	Cash public assistance	i.
j.	Gross income from out-of-state sources	j.

6.Total Household Income

	(Check with your county assessor for qualifying income)	6.	00

PART II. ASSESSOR USE ONLY - Calculation of Tax Exemption
1.	Enter gross assessed value of manufactured home	1.		00
2.	Less exemption	2.		00
3.	Net assessed value of manufactured home	3.		00

RETURN APPLICATION TO THE COUNTY ASSESSOR OF THE COUNTY IN WHICH THE MANUFACTURED HOME IS LOCATED

VERIFICATION:

Don’t Forget	✍
Don’t Forget
to Sign

ASSESSOR

USE:

I hereby certify that all information herein is true and correct to the best of my knowledge.

____________________________________________________	________________________________
Signature of Claimant	Date

		Approved
____________________________________________________	________________________________	Disapproved
____________________________________________________	________________________________
Assessor/Deputy	Date

APPLICATION FOR MANUFACTURED HOME PERSONAL PROPERTY EXEMPTION - PAGE 2

INSTRUCTIONS

68 O.S. 2012 Section 2949. Personal Property tax exemption for heads of households 62 years of age or older residing in certain manufactured homes.

A.Beginning with the year 2013 and for each year thereafter, any person sixty-two (62) years of age or older, who is the head of a household, is a resident of and is domiciled in this state during the entire preceding calendar year, whose gross household income for the preceding year did not exceed the greater of $22,000.00 or 50% of the H.U.D. median family income for the county where the manufactured home is located and owns and resides in a manufactured home which is located on land not owned by the owner of the manufactured home may receive an exemption on the manufac- tured home in an amount equal to Two Thousand Dollars ($2,000.00).

B.The application for the exemption provided by this section shall be made each year before March 15 or within thirty (30) days from and after the receipt by the taxpayer of notice of valuation increase, whichever is later, and upon the from prescribed by the Oklahoma Tax Commission, which shall require the taxpayer to certify the correct- ness of the amount of said gross income. The form prescribed by the Oklahoma Tax Commission pursuant to this section

shall state in bold letters that the form is to be returned to the county assessor of the county in which the manu-

factured home is located.

C.For persons sixty-ive (65) years of age or older as of March 15 and who have previously qualiied for the exemption provided by this section, no annual application shall be required in order to receive the exemption

provided by this section; however any person whose gross household income in any calendar year exceeds the amount

speciied in this section in order to qualify for the exemption provided by this section shall notify the county assessor and

the exemption shall not be allowed for the applicable year. Any executor or administrator of an estate within which is included a homestead property exempt pursuant to the provisions of this section shall notify the county assessor of the change in status of the homestead property if such property is not the homestead of a person who would be eligible for the exemption provided by this section.

D.As used in this section:

1.“Gross household income” means the gross amount of income of every type, regardless of the source, received by all persons occupying the same household, whether such income was taxable or nontaxable for

federal or state income tax purposes, including pensions, annuities, federal Social Security, unemployment payments, veterans’ disability compensation, public assistance payments, alimony, support money, workers’

compensation, loss-of-time insurance payments, capital gains and any other type income received, and exclud- ing gifts, and

2.“Head of household” means a person who as owner or joint owner maintains a home and furnishes the support for said home, furnishings, and other material necessities.

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Form Otc 952 – Fill Out and Use This PDF

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