Budget & Taxes (Property Tax)

in committee · Oklahoma · Senate Feb 3, 2026

SB 1993: Ad valorem; authorizes counties to decrease millage levy for libraries; requiring certain determination. Effective date.

SB 1993 allows Oklahoma counties that fund libraries through voter-approved property tax levies to reduce those tax rates via county commission resolution, provided the rate stays at or above 1 mill (the constitutional minimum). The resolution must specify current and proposed rates, confirm the reduced rate still funds the library adequately, and state the reduction serves taxpayers' best interests. It applies to counties using special levies for libraries, directly affecting local library budgets and taxpayer property bills. The bill takes effect November 1, 2026, and codifies this process into state law.

Topics ✓ Budget & TaxesSupports Budget & TaxesEnables county tax rate reductions for libraries while ensuring adequate funding, providing taxpayer relief through fiscal responsibility.92% confidence

Sub-Topics Property Tax

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in committee · Oklahoma · House Feb 3, 2026

HB 4496: Revenue and taxation; ad valorem; homestead exemption; effective date.

HB 4496 increases the homestead exemption from ad valorem property taxation in Oklahoma from $1,000 to $2,000 per qualifying homestead. This change directly affects Oklahoma homeowners who qualify as homestead owners under state law, reducing their property tax burden on the first $2,000 of their home's assessed value. The bill amends Section 2889 of Oklahoma Statutes to update the exemption amount, maintaining the existing classification of homesteads for tax purposes. It will take effect on November 1, 2026.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases homestead exemption from $1,000 to $2,000, reducing property tax burden for qualifying homeowners, providing direct tax relief.95% confidence

Sub-Topics Property Tax

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in committee · Oklahoma · House Feb 3, 2026

HB 3135: Revenue and taxation; ad valorem; homestead exemption; effective date.

HB 3135 increases Oklahoma's homestead property tax exemption for homeowners. It raises the base exemption from $1,000 to $2,000 per homestead and adds a conditional $3,000 exemption if two conditions are met: (1) a county's ad valorem tax revenue grows by at least 5% compared to the prior year, and (2) the county commissioners approve the additional exemption. This bill directly affects homeowners in counties meeting the revenue growth threshold, effective January 1, 2027. The key mechanism requires both verified revenue growth and local government approval to trigger the higher exemption amount.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases homestead property tax exemption, providing direct tax relief to homeowners, aligning with tax relief indicators for middle/lower income.95% confidence

Sub-Topics Property Tax Revenue Tax Incentives

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in committee · Oklahoma · House Feb 3, 2026

HB 4485: Revenue and taxation; ad valorem; valuation method; fair cash value; low income housing tax credit; county assessor; effective date.

HB 4485 requires county assessors to value real property financed with federal low-income housing tax credits (under IRS Section 42) using the income-approach method for property tax assessments. It explicitly prohibits including the value of federal or state low-income housing tax credits when determining a property’s fair cash value. Property owners must provide written notice to the county assessor by January 1 each year if the property uses such credits. The bill takes effect January 1, 2027, and applies specifically to properties using federal tax credits for low-income housing development.

Topics ✓ Budget & TaxesSupports Budget & TaxesExcludes tax credit value from property assessments, reducing taxes for low-income housing properties, aligning with tax relief for lower-income housing.95% confidence ✓ HousingSupports HousingPrevents property tax increases on low-income housing projects by excluding tax credits from valuations, supporting affordability and preserving incentives for developers.90% confidence

Sub-Topics Property Tax Tax Credits Affordable Housing Housing Finance Property Taxes

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in committee · Oklahoma · Senate Apr 1, 2026

SB 2001: Homestead exemption; authorizing exemption for certain people with homesteads that were purchased by the Oklahoma Turnpike Authority. Effective date.

This bill helps Oklahoma homeowners displaced by turnpike construction by matching their new property tax burden to what they paid on their previous home. For the first three tax years after moving, eligible homeowners get an extra tax exemption equal to the difference between their old home's tax bill and their new home's tax bill. It applies specifically to those who owned a home purchased by the state's Department of Transportation for a turnpike project and now claim a new homestead exemption. The exemption begins for tax year 2027 and lasts three years.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax exemption to displaced homeowners, reducing property tax burden for 3 years, aligning with tax relief for lower/middle income.90% confidence ✓ HousingSupports HousingProvides tax relief to displaced homeowners, reducing financial burden and supporting housing affordability after displacement by infrastructure projects.85% confidence

Sub-Topics Property Tax Tax Incentives Property Taxes

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in committee · Oklahoma · Senate Feb 3, 2026

SJR 35: Constitutional amendment; repealing ad valorem tax.

This bill (SJR 35) proposes a constitutional referendum to repeal specific sections of the Oklahoma Constitution that govern ad valorem property taxes. It would eliminate the constitutional basis for property taxes statewide, affecting all property owners and local taxing jurisdictions. The resolution also amends Section 21 of Article X to revise the duties of the State Board of Equalization, removing its role in assessing property valuation. The proposal requires voter approval through a statewide referendum, with the effective date set for January 1, 2031. This is a procedural step to initiate a public vote on constitutional changes, not an immediate policy change.

Topics ✗ Budget & TaxesOpposes Budget & TaxesRepeals ad valorem property tax, eliminating a major revenue source and weakening tax structure for state/local budgets.95% confidence

Sub-Topics Property Tax

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in committee · Oklahoma · House Feb 3, 2026

HJR 1082: Oklahoma Constitution; ad valorem; veterans; partial exemption; ballot title; filing.

This proposed constitutional amendment (HJR 1082) would create partial property tax exemptions for Oklahoma veterans with service-connected disabilities below 100%. It directly affects veterans honorably discharged from military service who have a disability rating of 10% to 99% and are certified by the U.S. Department of Veterans Affairs. The bill establishes specific exemption amounts based on disability percentage: $5,000 for 10-29%, $7,500 for 30-49%, $10,000 for 50-69%, and $12,000 for 70-99%. To qualify, applicants must prove Oklahoma residency and meet existing homestead exemption requirements. The measure requires voter approval as a constitutional amendment.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides property tax exemptions (up to $12,000) for veterans with service-connected disabilities, reducing their tax burden and aligning with tax relief for lower-income groups.95% confidence ✓ VeteransSupports VeteransProvides property tax exemptions for veterans with service-connected disabilities, reducing financial burden as a direct benefit expansion.95% confidence

Sub-Topics Property Tax

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in committee · Oklahoma · Senate Feb 3, 2026

SJR 30: Constitutional amendment; reducing limit on growth of fair cash value.

This constitutional amendment (SJR 30) would reduce limits on annual property tax increases in Oklahoma. For most properties, it lowers the annual growth cap from 5% to 3% (for tax years 2013-2026) and from 3% to 2% (for 2027+). Homestead and agricultural properties would see similar reductions, from 3% to 2% for 2013-2026 and 2% to 1% for 2027+. Property transfers or major improvements would reset the assessment to full market value, bypassing the cap. It directly affects homeowners, farmers, and property owners subject to local property taxes.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill reduces annual property tax growth caps (5%→3%, 3%→2%), directly restricting tax increases on homeowners/farmers per constitutional amendment.95% confidence

Sub-Topics Property Tax

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passed · Oklahoma · House Apr 1, 2026

HJR 1046: Oklahoma Constitution; ad valorem; property exempt; meteorological event; ballot title; filing.

This proposed constitutional amendment (HJR 1046) would add a 100% property tax exemption for primary residences in Oklahoma damaged or destroyed by qualifying weather events (like tornadoes, hail, or high winds). It directly affects homeowners whose primary residence becomes uninhabitable due to such events, exempting the full assessed value of the property from ad valorem taxes during the tax year of damage (or the following year if damage occurs after June). The exemption applies only to properties deemed "uninhabitable" and unable to be safely occupied for residential use. This amendment requires voter approval through a legislative referendum before taking effect.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides targeted tax exemption for primary residences damaged by weather events, reducing state tax revenue for affected homeowners and aligning with tax relief support for middle-income residents.95% confidence

Sub-Topics Property Tax Tax Incentives

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in committee · Oklahoma · House Mar 5, 2026

HJR 1054: Oklahoma Constitution; ad valorem taxation; business inventory; ballot title; filing.

HJR 1054 proposes a constitutional amendment exempting business inventory from Oklahoma's ad valorem property tax starting January 1, 2027. It directly affects for-profit businesses, estates, and trusts that record inventory in their books for tax purposes. The key provision adds Section 6D to Article X of the Oklahoma Constitution, exempting "personal property described as inventory" in business records. This would require voter approval through a legislative referendum, as outlined in the proposed ballot title. The amendment does not change existing tax rules for non-inventory business property.

Topics ✗ Budget & TaxesOpposes Budget & TaxesExempts business inventory from ad valorem tax, reducing state tax revenue and weakening the tax base.95% confidence

Sub-Topics Property Tax Sales Tax

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