Kirt comments on recent LOFT report on Commissioners of the Land Office

Sen. Julia Kirt released the following statement Wednesday after the Legislative Office of Fiscal Transparency (LOFT) released a report on the Commissioners of the Land Office (CLO), the authority responsible for maintaining lands in trust in order to create revenue that can be used by public schools and higher education.

“Real financial responsibility requires a holistic view. We can’t just focus on the state’s finances, we have to know what impact our decisions have on cities and local school districts. Based on this LOFT report, I am concerned that CLO may not be analyzing the possible negative impact of their decisions.

“Real estate values in downtown Oklahoma City alone have depreciated since CLO took ownership. We can’t scrap the entire land trust program without thoroughly assessing risk, but we need to take seriously whether the state’s current management strategy is maximizing revenues while also not undermining local real estate ecosystems.

“All decisions about property taxation must prioritize funding for K-12 and higher education. We have to ensure CLO’s investments are keeping education a priority.” 

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For more information, contact:

Sen. Julia Kirt at 405-521-5636 or Julia.Kirt@oksenate.gov