Oklahoma Industries Authority v. Barnes

OPALA, Justice.

Oklahoma Industries Authority [OIA] and four of its lessees appeal from the trial court’s decision that a private leasehold interest in tax-exempt property may be assessed an ad valorem tax based on the full value of the fee. Three issues are presented for review: [1] May a private leasehold estate in tax-exempt public-trust property be taxed to the lessee? [2] If the tax is proper, at what rate should it be assessed? and [3] Have the four lessees properly preserved their right to appeal from the tax assessments for 1980 through 1983? We answer the first question in the…