Ad valorem taxation; creating the Property Tax Transparency Act; requiring the State Auditor and Inspector to enforce the provisions of the act. Effective date. Emergency.

SB 679, the "Property Tax Transparency Act," requires Oklahoma county tax assessors to provide property owners with detailed annual tax bills showing the fair cash value calculation method, assessment ratios, all applicable exemptions, and a clear breakdown of how their taxes are spent (e.g., schools, public safety, infrastructure). It mandates that tax bills be sent directly to property owners - regardless of escrow status - and creates an online platform for owners to access valuation data and protest assessments. The bill also requires annual independent audits of tax assessments, authorizes fines up to $1,000 for non-compliance (with funds allocated to state/county/municipality), and obligates the State Auditor to enforce these rules. This directly affects all Oklahoma property owners and county tax assessors by increasing transparency in how property taxes are calculated and allocated.