SB 823 increases the homestead tax exemption for manufactured home owners in Oklahoma. It allows residents of manufactured homes to qualify for the exemption even if they don't own the land the home sits on, provided it's their primary residence and meets other requirements. The bill amends existing tax code to expand eligibility under Sections 2812 and 2888, directly affecting manufactured home owners who previously might have been ineligible due to land ownership rules. This change aims to provide greater tax relief to qualifying homeowners.
SB 681 amends Oklahoma's property tax notice requirements to ensure homeowners with homestead properties receive clear information about value limits. Specifically, it requires county assessors to include details on applying for a "limit on fair cash value" (a homestead property tax cap) in written notices when property valuations increase. This applies directly to Oklahoma homeowners whose primary residence qualifies as a homestead under state law. The bill does not change tax rates but improves transparency in the notification process for affected property owners.
HB 1198 adds a $1,000 property tax break for Oklahoma homeowners with household income under $30,000 annually. It directly affects low-income primary homeowners (defined as those maintaining a home and providing for household necessities) by exempting $1,000 of their property's assessed value from taxes. Homeowners must apply yearly by March 15 (or within 30 days of a valuation notice) and certify income, which includes most earnings like Social Security but excludes veterans' benefits and pandemic relief payments. Seniors aged 65+ who previously qualified do not need annual applications but must report income exceeding $30,000 to maintain the exemption.
SB 101 creates an income tax credit for Oklahoma residents paying rent or mortgage on their primary residence. It provides refundable credits ranging from $1,000 to $7,000 based on household income (as a percentage of Oklahoma's state median income) and the number of dependents. The credit applies to tax years starting in 2026, with limits of one credit per residence and refunding excess amounts if the credit exceeds the tax owed. This directly benefits low-to-moderate-income Oklahoma households struggling with housing costs. The bill takes effect November 1, 2025.
SB 425 modifies Oklahoma's property tax relief program for seniors and disabled residents by increasing the income limit from $12,000 to $40,000 annually and lowering the age requirement from 65 to 60 years. This change directly affects Oklahoma residents aged 60 or older (or totally disabled heads of household) with household incomes under $40,000 who qualify for property tax relief on their primary residence. The bill updates existing statutory language in Sections 2905 and 2906 of Title 68, Oklahoma Statutes, to reflect these eligibility changes. The Oklahoma Tax Commission will administer the revised program, effective November 1, 2025.
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.
SB 923 modifies Oklahoma's Affordable Housing Tax Credit program by increasing the annual credit cap to $15 million for 2026-2030 (from $4 million previously) and requiring new projects placed in service after January 1, 2026, to qualify as "workforce housing" (housing for households earning 60-120% of local median income). It makes the tax credit nonrefundable (cannot reduce tax below zero), ties Oklahoma credits to federal low-income housing credit recapture rules, and mandates eligibility statements from the Oklahoma Housing Finance Agency. The bill directly affects developers of qualifying affordable housing projects who seek to claim these tax credits, effective January 1, 2026.
HB 2410 increases Oklahoma's annual cap for affordable housing tax credits from $4 million to $10 million per year through December 2029, then reverts to $4 million annually after 2029. It directly affects developers of qualifying affordable housing projects and investors who claim tax credits for these projects. The bill ties Oklahoma's tax credits to federal low-income housing credits, limits credits to projects placed in service after July 2015, and requires eligibility statements from the Oklahoma Housing Finance Agency to claim credits. Credits cannot reduce tax liability below zero and must be claimed with tax returns, with unused credits carryable forward for two years.
HJR 1001 proposes a constitutional amendment to Oklahoma's property tax system. It would eliminate the income requirement for seniors aged 65+ who own and occupy their homes, while maintaining other conditions: the home's property tax value must be $500,000 or less, and the owner must have lived there for 10 years (allowing up to 365 days away in a decade). The amendment keeps existing rules requiring age, occupancy, and the $500,000 value cap, but removes the need to meet income thresholds based on HUD's county median. This change would apply only to homesteads subject to the current tax limitations.
