Ad valorem tax; providing credit for certain expenditures or reduction in fair cash value resulting from lack of enforcement of political subdivision. Effective date.

SB 1087 allows property owners in Oklahoma to claim a credit against their property taxes if their property value drops or they incur costs to address issues caused by local governments failing to enforce laws against activities like illegal camping, public loitering, or public nuisances (e.g., pollution or uncontrolled camping). The credit equals either the reduced property value or the owner’s reasonable expenses to mitigate these issues, but only if the local government’s lack of enforcement directly caused the problem. Property owners can claim the credit once yearly, carry forward unused credit for up to 10 years, and local governments must prove the credit claim is unreasonable if challenged. The bill explicitly excludes credits for cases involving prosecutorial discretion, federal mandates, or executive clemency.