Budget & Taxes (Property Tax)

in committee · Oklahoma · Senate Feb 16, 2026

SB 1839: Ad Valorem Tax; expanding classification of property. Effective date.

SB 1839 creates a new "de minimis" classification for personal property valued at $5,000 or less, exempting it from annual listing and assessment under Oklahoma's ad valorem tax system. This directly affects homeowners and property owners with low-value personal items (like furniture or small tools) who previously had to report such property annually. The bill amends Sections 2803 and 2817 of Oklahoma's tax code to formally establish this exemption and update related language. It simplifies the tax process for these items without changing tax rates or obligations for higher-value property.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts low-value personal property ($5,000 or less) from annual tax assessment, providing relief for homeowners with modest assets, aligning with tax relief indicators for middle/lower income.95% confidence

Sub-Topics Property Tax

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in committee · Oklahoma · House Mar 5, 2026

HJR 1053: Oklahoma Constitution; ad valorem taxation; revenue neutral tax rates; procedures; ballot title; filing.

HJR 1053 proposes a constitutional amendment requiring Oklahoma local governments to calculate a "revenue neutral rate" for property taxes each year, which would generate the same revenue as the previous year based on current property valuations. If a county, city, or school district seeks to exceed this rate, it must hold a public hearing, provide detailed written notice to property taxpayers 10 days in advance (including comparisons to prior tax rates), and obtain a majority vote from its governing body. The bill mandates refunds to taxpayers if local governments fail to follow these procedures when levying taxes above the revenue neutral rate. It excludes taxing districts receiving under $5,000 annually in property tax revenue.

Topics ✗ Budget & TaxesOpposes Budget & TaxesRequires revenue-neutral property tax rates, restricting local tax hikes without voter approval per bill's explicit language.95% confidence

Sub-Topics Property Tax Revenue

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vetoed · Oklahoma · House May 12, 2026

HB 3972: Public finance; Ad Valorem Reimbursement Fund; school district revenue loss; state purchases; emergency.

HB 3972 creates a state "Ad Valorem Reimbursement Fund" to reimburse Oklahoma counties for property tax revenue losses caused by specific exemptions. It directly affects counties that lose revenue due to tax exemptions for new manufacturing facilities, veterans' homes (if exemptions exceed 0.8% of population), school district exemptions, buffer strip valuation changes, or state property purchases over $300 million (limited to two tax years). Counties must file claims by April 30 each year, with the Tax Commission reviewing them by June 15; reimbursements prioritize manufacturing exemptions and state property purchases before other claims. The fund is a revolving account with no fiscal year limits, and disbursements are exempt from standard spending caps. The bill takes immediate effect due to an emergency declaration.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates Ad Valorem Reimbursement Fund to offset county revenue losses from tax exemptions, supporting fiscal stability for local governments affected by state policies.95% confidence

Sub-Topics Property Tax Revenue Tax Incentives

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in committee · Oklahoma · House Feb 3, 2026

HB 3591: Affordable housing; Oklahoma Affordable Housing Policy Act of 2026; effective date.

HB 3591 amends Oklahoma's property tax exemption rules for charitable housing, correcting the misleading title that references "affordable housing." It specifically targets nonprofit housing properties claiming tax exemption under Section 2887, requiring them to maintain a 75% average occupancy rate for multi-family properties (or full occupancy for single-family homes) to retain exemption. Owners must submit annual occupancy reports to county assessors by December 15, with failure to meet the threshold resulting in loss of tax exemption for the following year. This bill directly affects nonprofit housing providers operating under IRS 501(c)(3) status that rely on property tax exemptions, altering their compliance obligations without creating new housing programs.

Topics ✓ Budget & TaxesSupports Budget & TaxesEnforces occupancy requirements to prevent tax exemption misuse, ensuring fiscal responsibility by closing loopholes in charitable housing tax benefits.90% confidence

Sub-Topics Property Tax Tax Incentives

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failed · Oklahoma · Senate Apr 28, 2026

SJR 39: Constitutional amendment; ad valorem; reducing limitation on growth of fair cash value; modifying limitation on growth of fair cash value for homesteads of persons over sixty-five years of age.

Oklahoma's SJR 39 proposes a constitutional amendment to reduce limits on annual increases in property tax assessments. It would lower the maximum annual growth rate for most real property from 5% to 3% (for tax years 2027 onward) and further reduce limits for homestead properties (primary residences) and agricultural land from 3% to 1%. The amendment applies to locally assessed real property, excluding personal property and properties with recent transfers or improvements. If approved by voters, these changes would take effect for tax years beginning in 2027.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill reduces property tax assessment growth limits from 5% to 3% (3% to 1% for homesteads), restricting government revenue growth from property taxes.95% confidence

Sub-Topics Property Tax

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in committee · Oklahoma · House Mar 5, 2026

HJR 1044: Oklahoma Constitution; ad valorem; limitation of growth on fair cash value; ballot title; filing.

This bill proposes a constitutional amendment (HJR 1044) that would reduce the annual limit on property tax value increases for certain Oklahoma properties. Specifically, it would lower the cap from 3% to 2% for homestead properties and agricultural land, meaning their assessed value could rise by no more than 2% per year for tax purposes. The change would apply to most locally assessed real property but excludes properties with title transfers, new improvements, or personal property. If approved by voters, this amendment would require the Legislature to enact implementing laws. It is a voter-approved constitutional change, not a regular law.

Topics ✓ Budget & TaxesSupports Budget & TaxesReduces annual property tax assessment cap from 3% to 2% for homesteads/ag land, providing tax relief and promoting fiscal responsibility for property owners.95% confidence

Sub-Topics Property Tax

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in committee · Oklahoma · House Feb 3, 2026

HB 3801: Revenue and taxation; ad valorem; homestead exemption; effective date.

HB 3801 increases Oklahoma's homestead property tax exemption from $1,000 to $2,000 per year for qualifying homeowners. The bill amends Oklahoma Statutes to expand the tax break on the assessed value of primary residences, directly benefiting homeowners who qualify as "homestead owners" under state law. This change takes effect November 1, 2026, and applies to all homesteads assessed for ad valorem taxation. The legislation makes a specific, concrete change to existing tax law without altering eligibility criteria or creating new administrative processes.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases homestead tax exemption from $1k to $2k annually, providing direct tax relief to qualifying homeowners under tax law.95% confidence

Sub-Topics Property Tax Tax Incentives

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in committee · Oklahoma · Senate Mar 4, 2026

SB 1809: Ad valorem tax; increasing homestead exemption. Effective date.

SB 1809 increases Oklahoma's homestead property tax exemption from $1,000 to $5,000 annually for homeowners. It directly affects residents who own their primary residence as a homestead by reducing their taxable property value. The bill amends tax law to raise the exemption amount starting with the 2027 tax year, meaning homeowners will pay property tax only on the value exceeding $5,000. The change takes effect November 1, 2026.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases homestead exemption, reducing property tax burden for homeowners, aligning with tax relief for middle-income residents.95% confidence ✓ HousingSupports HousingIncreases homestead exemption from $1k to $5k, reducing property tax burden for homeowners and making primary residence ownership more affordable.85% confidence

Sub-Topics Property Tax Tax Incentives Property Taxes

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in committee · Oklahoma · House Feb 3, 2026

HB 3064: Revenue and taxation; Oklahoma Revenue and Taxation Act of 2026; effective date.

HB 3064 requires Oklahoma counties to use a new standardized form for disabled veterans and their surviving spouses when they purchase a new home, ensuring they maintain their property tax exemption. The form must confirm they previously qualified for the exemption on their old homestead, and county assessors must use it to update property records to reflect the new exempt status. This applies specifically to veterans who qualify under Oklahoma Constitution Sections 8E and 8F for their primary residence (homestead). The bill creates a clear process to avoid losing tax benefits during home purchases and ensures county officials send updated tax bills accordingly. The law takes effect November 1, 2026.

Topics ✓ Budget & TaxesSupports Budget & TaxesMaintains property tax exemption for disabled veterans, providing tax relief under Oklahoma Constitution Sections 8E/8F.95% confidence ✓ VeteransSupports VeteransEnsures disabled veterans maintain property tax exemption upon home purchase, protecting an existing benefit under state law.95% confidence

Sub-Topics Property Tax Tax Incentives Veteran Housing

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in committee · Oklahoma · Senate Feb 3, 2026

SB 2147: Ad valorem tax; assigning certain fair cash value for homestead of those displaced by turnpike construction. Effective date.

SB 2147 ensures that homeowners displaced by Oklahoma turnpike construction receive equitable property tax treatment when they claim a new homestead. If a homeowner's original homestead was purchased by the Oklahoma Department of Transportation for a turnpike project, their new homestead's initial taxable property value must match the taxable value of their prior homestead in the year it was purchased. This provision applies to those claiming a homestead exemption on their new property after displacement. The bill takes effect November 1, 2026, and codifies this tax assignment process in Oklahoma law.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides property tax relief for displaced homeowners by maintaining prior taxable value, aligning with tax relief indicators for affected residents.65% confidence

Sub-Topics Property Tax

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