General Motors v. Oklahoma County Board of Equalization

1 The Oklahoma Industries Authority (OIA), a public trust, created pursuant to 60 O.S. 1961 ? 176 et seq., as amended, sponsored the "public trust" financing for the construction of General Motors Corporations (GMC) assembly plant in Oklahoma City. The issue presented is whether GMCs interest (improvements, machinery and equipment) in the plant is subject to ad valorem taxation. GMC contends its interest is not taxable because of a tax abatement agreement between it and the State of Oklahoma. GMC asserts that public agencies and officials of the State of Oklahoma agreed that if GMC would build its assembly plant in Oklahoma that such plant would not be subject to ad valorem taxation for twenty years.