Budget & Taxes (Property Tax)

SB 1087 allows property owners in Oklahoma to claim a credit against their annual property tax if local governments (counties, cities, or municipalities) fail to enforce laws against specific public nuisances like illegal camping, obstruction of streets, or public intoxication. The credit equals either the reduced property value caused by this inaction or the reasonable costs the owner incurred to mitigate the nuisance (e.g., security fencing). Property owners may claim this credit once yearly, with unused portions carried forward for up to 10 years, and local governments must prove the credit amount is unreasonable if challenged. The bill explicitly excludes credits for case-by-case prosecutorial decisions or federal-mandated actions.

HB 1477 creates a $2,000 refundable income tax credit for Oklahoma homeowners who own a qualifying single-family home (under 1,501 sq ft, built at least 50 years ago in an established neighborhood) for 4-8 years. To qualify, homeowners must have held the homestead exemption for the previous three tax years. The credit is fully refundable, meaning eligible taxpayers receive the full $2,000 as a cash refund directly from the state, even if they owe no income tax. This policy directly affects qualifying homeowners in established older neighborhoods, providing a direct financial benefit tied to long-term property ownership. The credit applies to tax years beginning January 1, 2026.

SB 303 expands Oklahoma's property tax relief program to include disabled veterans and certain first responders. It allows honorably discharged veterans with a 75% service-connected disability, plus police, firefighters, or law enforcement officers receiving disability retirement for line-of-duty injuries, to claim tax relief on their primary residence. The bill modifies income limits and caps annual relief at $1,000 (up from $200), applying to households meeting income thresholds set by HUD. This change takes effect January 1, 2026, and directly affects eligible disabled service members and their surviving spouses.

HJR 1006 proposes a constitutional amendment to freeze property tax bills during periods of high inflation. If Oklahoma's consumer price index (CPI) rises above 2%, the taxable value used to calculate ad valorem (property) taxes would remain locked at the previous year's level for all property owners. This means property tax bills would not increase due to rising property values during those inflationary periods. The amendment requires voter approval via a referendum, as indicated by the ballot title language.

HB 1198 adds a $1,000 property tax break for Oklahoma homeowners with household income under $30,000 annually. It directly affects low-income primary homeowners (defined as those maintaining a home and providing for household necessities) by exempting $1,000 of their property's assessed value from taxes. Homeowners must apply yearly by March 15 (or within 30 days of a valuation notice) and certify income, which includes most earnings like Social Security but excludes veterans' benefits and pandemic relief payments. Seniors aged 65+ who previously qualified do not need annual applications but must report income exceeding $30,000 to maintain the exemption.

SB 818 proposes to increase Oklahoma's additional homestead property tax exemption from $1,000 to $3,000 annually for eligible homeowners. It raises the income limit for qualification from $30,000 to $40,000 and lowers the automatic renewal age from 65 to 60 years. This bill would directly affect low-to-moderate-income homeowners aged 60+ who qualify as heads of household, requiring annual applications unless they meet the age threshold. The changes would take effect November 1, 2025, if passed.