Budget & Taxes (Property Tax)

This bill proposes a constitutional amendment to eliminate all property taxes in Oklahoma by repealing multiple sections of the Oklahoma Constitution that govern property tax assessment and collection. It would remove the State Board of Equalization's duty to assess property values and adjust tax rates, effectively ending ad valorem property taxation statewide. The measure requires voter approval via ballot initiative, with a planned effective date of January 1, 2030, and affects all property owners and local taxing jurisdictions. The proposed amendment is structured as a legislative referendum for voter decision.