Budget & Taxes (Property Tax)

passed · Oklahoma · Senate Apr 15, 2025

SB 1114: Constitutional amendment; providing credit for owners of property that qualify for certain limitation on the growth of fair cash value.

SB 1114 creates a property tax credit for Oklahoma homeowners with qualifying homesteads who meet the existing "limitation on growth of fair cash value" under state law. The credit equals the difference between a homeowner's current year property tax and the prior year's tax, but only if the current tax is lower. County assessors must deduct this credit from the tax bill by October 1 annually, though the credit cannot reduce taxes below zero. The credit applies starting tax year 2026 and is codified in Oklahoma Statutes. It directly affects qualifying homestead property owners by potentially lowering their annual property tax burden.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides property tax credit to qualifying homeowners, reducing their tax burden starting 2026 per bill language.95% confidence

Sub-Topics Property Tax Tax Credits

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in committee · Oklahoma · Senate Feb 4, 2025

SJR 17: Constitution; modifying timing of property tax asessment; limiting fair cash value.

This Senate Joint Resolution (SJR 17) proposes a constitutional amendment to change Oklahoma's property tax assessment rules. It would limit how often property values are reassessed (to once every four years instead of annually) and modify growth limits: property values would be capped at a 5% increase per four-year period (3% for homestead or agricultural land), rather than annually. If approved by voters, these changes would apply to real estate taxes on locally assessed property, affecting homeowners and landowners who pay ad valorem taxes. The amendment is being sent to voters for approval through a ballot measure.

Topics ✓ Budget & TaxesSupports Budget & TaxesCapping annual property tax increases at 5% (3% for homesteads) provides tax relief for homeowners, aligning with fiscal responsibility in tax management.90% confidence

Sub-Topics Property Tax

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in committee · Oklahoma · Senate Feb 4, 2025

SJR 16: Constitutional amendment; modifying procedure for fair cash value for improvements on homestead; prohibiting addition of fair cash value on same improvements for certain seniors.

This constitutional amendment (SJR 16) would modify Oklahoma's property tax rules for seniors. It sets a uniform 3% annual cap on fair cash value increases for all real property (replacing previous tiered limits), and specifically prohibits adding the value of home improvements to the tax base for seniors aged 65+ who meet income thresholds based on local median income data. The change directly affects qualifying senior homeowners by preventing future tax increases tied to home renovations, while preserving existing frozen valuations for seniors who qualified before 1997.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill provides tax relief for seniors (65+ with income thresholds) by prohibiting home improvement value additions to property tax base, directly reducing tax burden for middle/lower income seniors.90% confidence

Sub-Topics Property Tax Tags Seniors

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in committee · Oklahoma · Senate Feb 4, 2025

SJR 3: Constitutional amendment; modifying limit on fair cash value of homestead to provide exemption for the full amount of fair cash value for seniors.

This constitutional amendment (SJR 3) proposes to provide full property tax exemption on homesteads for Oklahomans aged 65 or older, or those receiving Social Security retirement benefits, starting January 1, 2026. It replaces the current system - which limits exemptions based on household income thresholds (determined by HUD median income data) for seniors with lower incomes - with a full exemption regardless of income. The change requires voter approval as a constitutional amendment and would apply to both the primary residence and taxable personal property on the homestead.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides full property tax exemption for seniors (65+ or Social Security recipients), reducing tax burden on fixed-income households per bill's explicit tax relief intent.90% confidence

Sub-Topics Property Tax Tax Incentives

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in committee · Oklahoma · Senate Feb 4, 2025

SB 679: 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 counties to provide property owners with detailed annual tax bills showing exactly how their taxes are calculated and spent. The bill mandates clear breakdowns of a property's fair market value, assessment ratio, applicable exemptions, tax rates for each local entity (like schools or police), and a percentage-based allocation of taxes to categories such as public safety or infrastructure. It also requires counties to maintain an online portal for property owners to access their tax data and submit valuation disputes, and to send tax bills directly to owners even if payments are handled through escrow. Violations like failing to send bills or providing inaccurate information can result in fines up to $1,000 per incident, with funds allocated to the State Auditor, county, and municipality. This law directly affects all property owners and local governments responsible for tax assessments in Oklahoma.

Topics ✓ Budget & TaxesSupports Budget & TaxesRequires detailed tax breakdowns for transparency, promoting fiscal accountability in property tax allocation without altering rates or funding levels.90% confidence

Sub-Topics Audits & Accountability Property Tax

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signed · Oklahoma · Senate Apr 29, 2026

SB 1122: Ad valorem tax; requiring the State Board of Equalization to assess certain broadband property.at certain radio Effective date.

SB 1122 requires Oklahoma's State Board of Equalization to assess property used for **wired broadband service** (offering internet over 100 Mbps download/20 Mbps upload) at a **15% tax rate** for tax years 2026-2036. It applies only to infrastructure in areas with **less than 10% broadband coverage** (per FCC maps) and exclusively to property used for broadband, excluding other services like video streaming. The bill amends tax code to define "broadband service providers" and mandates this specific assessment ratio for qualifying assets, including fiber, cables, and network infrastructure. This policy directly affects **wired broadband providers** expanding service in underserved rural or low-coverage regions.

Topics ✓ Budget & TaxesSupports Budget & TaxesImposes 15% tax on broadband infrastructure in low-coverage areas, increasing state revenue for fiscal management per tax code amendment.95% confidence ✗ TechnologyOpposes TechnologyImposes 15% tax on broadband infrastructure in low-coverage areas (under 10% FCC coverage), increasing costs for providers and likely hindering expansion of internet access in underserved regions.90% confidence

Sub-Topics Property Tax Broadband Access

in committee · Oklahoma · Senate Feb 3, 2026

SB 1210: Ad valorem taxation; expanding exceptions for listing and assessment requirement. Effective date.

SB 1210 modifies Oklahoma's property tax assessment rules for certain personal and agricultural properties. It expands exceptions to annual listing and assessment for household items (valued at 10% of home value) and business inventory, while updating how agricultural land and poultry production facilities are valued. Agricultural land use value now uses soil maps and income capitalization, and poultry facilities must follow specific depreciation schedules (10-year for real property, 5-year for personal property). These changes directly affect property owners, farmers, and poultry businesses by altering how their assets are taxed. The bill updates statutory language but does not create new taxes or exemptions.

Topics ✓ Budget & TaxesSupports Budget & TaxesExpands tax assessment exceptions for household items (10% home value) and agricultural properties, reducing tax burden through updated valuation methods.95% confidence

Sub-Topics Property Tax

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in committee · Oklahoma · Senate Feb 20, 2025

SB 1124: Sinking funds; requiring levy sufficient for timely redemption; prohibiting issuance for certain period if redeemed below par. Effective date.

SB 1124 requires Oklahoma school districts (excluding technology centers) to set property tax levies high enough to fully redeem bonds and pay interest within the originally proposed timeframe. If a bond is redeemed early at a discount (below par), the district must reduce its tax levy to zero for one full tax year and cannot issue new bonds for the same purpose for one year. The State Auditor enforces these rules, and non-compliant districts must transfer 10% of state aid to an education fund, or face limits on future bond issuance. The bill takes effect November 1, 2025.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill enforces fiscal responsibility by mandating sufficient tax levies for bond redemption, penalizing underfunding through levy reductions and bond issuance bans, aligning with promoting fiscal management.95% confidence

Sub-Topics Audits & Accountability Debt & Bonds Property Tax

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in committee · Oklahoma · House Feb 4, 2025

HB 2466: Homestead exemption; Oklahoma Homestead Exemption Act of 2025; effective date.

HB 2466 creates the "Oklahoma Homestead Exemption Act of 2025," establishing a homestead exemption for Oklahoma homeowners. This bill directly affects residents who own and occupy their primary residence by providing a property tax exemption, though specific exemption details (like dollar amounts) aren't defined in the provided text. The act will take effect on November 1, 2025, and is designated for noncodification (meaning it won't be added to Oklahoma's official statutes).

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides property tax exemption for primary residences, reducing tax burden - classic tax relief for homeowners.95% confidence

Sub-Topics Property Tax Tax Incentives

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in committee · Oklahoma · Senate Feb 4, 2025

SJR 10: Constitutional amendment; expanding veteran ad valorem tax exemption.

This constitutional amendment (SJR 10) proposes expanding Oklahoma's property tax exemptions for veterans. It would allow all honorably discharged veterans and their unremarried surviving spouses - regardless of disability status - to claim full exemptions on both household personal property and homesteads (primary residences) from ad valorem taxes. The bill removes the current requirement that veterans must have a 100% disability certification to qualify. To qualify, applicants must prove Oklahoma residency and meet existing homestead exemption criteria. If approved by voters, this change would apply to tax years beginning in 2026.

Topics ✓ Budget & TaxesSupports Budget & TaxesExpands property tax exemptions for veterans, removing disability requirement to provide broader tax relief, aligning with support indicators.95% confidence ✓ VeteransSupports VeteransExpands property tax exemption for all honorably discharged veterans and surviving spouses by removing disability requirement, increasing access to financial benefit.95% confidence

Sub-Topics Property Tax Tax Incentives Veteran Education

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