Budget & Taxes (Property Tax)

in committee · Oklahoma · Senate Mar 9, 2026

SJR 48: Constitutional amendment; limiting the reimbursement to counties and other taxing jurisdictions for lost revenue; ordering special election.

This bill proposes a constitutional amendment to Oklahoma that limits how much money the state must return to local governments when they lose tax revenue due to property tax exemptions for new manufacturing facilities. The amendment would cap reimbursement to counties, cities, schools, and other taxing jurisdictions at the amount of tax revenue they collected before the new or expanded manufacturing facility was built. It also allows counties to keep up to 25% of increased tax revenue after the five-year exemption period ends, provided they use it for economic development. The bill requires a special election on August 25, 2026, where Oklahoma voters will decide whether to approve or reject this change to the state constitution.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill limits state reimbursement to local governments for lost tax revenue, restricting local budget capacity and fiscal management.90% confidence

Sub-Topics Property Tax Revenue Tax Incentives

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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 · 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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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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in committee · Oklahoma · Senate Feb 3, 2026

SJR 28: Constitutional amendment; revenue neutral rate for ad valorem; millage adjustment.

This constitutional amendment (SJR 28) requires Oklahoma counties to calculate a "revenue neutral rate" each year - defined as the tax rate needed to generate the same revenue as the previous year based on current property valuations. Taxing jurisdictions (like cities or school districts) can only exceed this rate after holding a public hearing, providing detailed notices to taxpayers (including the proposed rate, budget needs, and previous rates), and obtaining a majority vote from their governing body. If jurisdictions fail to follow these steps, they must refund excess taxes collected. The bill also mandates that county assessors send taxpayers annual notices showing the revenue neutral rate, proposed changes, and how officials voted on tax rates. It takes effect January 1, 2028.

Topics ✗ Budget & TaxesOpposes Budget & TaxesRequires revenue-neutral tax rates, restricting jurisdictional increases without public hearings/votes. Limits tax hikes rather than advancing funding or tax relief.92% confidence

Sub-Topics Property Tax

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in committee · Oklahoma · Senate Feb 3, 2026

SB 1997: Ad valorem tax; exempting certain property of business entity from ad valorem tax. Effective date.

SB 1997 exempts certain business-owned property from Oklahoma's ad valorem property taxes. It specifically applies to businesses operating rental housing (requiring 75% annual occupancy) or continuum of care retirement communities (licensed, nonprofit, and IRS 501(c)(3) qualified). Property owners must annually report occupancy rates to the county assessor to maintain the exemption. This bill directly affects businesses owning multi-family housing or senior living facilities that meet these specific criteria.

Topics ✗ Budget & TaxesOpposes Budget & TaxesExempts business property from ad valorem taxes, reducing tax revenue and weakening state tax base without funding public services.95% confidence ✓ HousingSupports HousingExempts rental housing (75% occupancy) and senior housing from property taxes, reducing costs for operators which may support affordability and property maintenance.85% confidence

Sub-Topics Property Tax Property Taxes Renters

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in committee · Oklahoma · Senate Feb 3, 2026

SJR 44: Constitutional amendment; increasing voter threshold for levy of tax and issuance of debt.

SJR 44 is a constitutional amendment requiring voter approval for property tax changes and debt issuance. It would raise the threshold from a simple majority to at least two-thirds of registered voters casting ballots for any new tax, tax increase, or debt issuance by counties, cities, or other local governments. The amendment affects all local taxing jurisdictions in Oklahoma by making it harder to pass tax or debt measures without broad public support. It applies to existing constitutional provisions governing property taxes (Sections 6B, 8, 9, etc.) and revenue bills, though it does not change current tax exemptions like manufacturing incentives. The measure must be approved by voters in an election to take effect.

Topics ✗ Budget & TaxesOpposes Budget & TaxesRaises voter approval threshold for local tax/debt measures, restricting passage of new taxes and debt issuances without broad public support.95% confidence ✗ HousingOpposes HousingRaises voter threshold for property tax/debt measures, making it harder for local governments to fund housing initiatives through bonds or tax increases, thus limiting housing development funding.85% confidence

Sub-Topics Business Taxes Debt & Bonds Property Tax Property Taxes

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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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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 Feb 4, 2025

HJR 1004: Oklahoma Constitution; fair cash value of homestead; limit; ballot title; filing.

HJR 1004 proposes a constitutional amendment to limit property tax increases for Oklahoma homesteads. It would freeze the tax assessment value of a primary residence for homeowners who have owned and occupied the property for at least 10 years and whose gross household income stays below HUD's low-income threshold for their county. The cap remains in effect as long as these conditions are met, but any property improvements would be added to the assessed value while still respecting the frozen baseline. If homeowners move out or exceed the income limit, the property reverts to standard tax assessment rules. This measure requires voter approval via ballot referendum.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill explicitly limits property tax increases for homesteads, restricting tax growth for qualifying homeowners.90% confidence ✓ HousingSupports HousingFreezes property tax assessments for low-income homeowners, protecting housing affordability and property rights under homestead protections.85% confidence

Sub-Topics Property Tax Property Taxes

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