Ad valorem tax; modifying certain income limitation to claims for property tax relief. Effective date.

SB 425 updates Oklahoma's property tax relief program by lowering the age requirement for eligibility from 65 to 60 years and raising the income limit from $12,000 to $40,000 for gross household income. This change directly affects older Oklahomans (60+) and totally disabled individuals who are heads of households and reside in the state year-round. Eligible residents can now claim property tax relief on their primary residence if their prior year's household income stays below $40,000, with only one claim permitted per household annually. The bill takes effect November 1, 2025, and updates administrative procedures for filing claims.