SB 1885 modifies Oklahoma's homestead tax exemption for homeowners. Starting in 2027, it phases in a full exemption from ad valorem taxes on homestead properties: 33% in 2027, 67% in 2028, and 100% from 2029 onward. This replaces previous exemption amounts and applies uniformly to all qualifying homeowners statewide. The bill takes effect January 1, 2027, with taxes for 2027 payable in 2027. It directly affects Oklahoma homeowners who qualify for homestead exemption under state law.
HB 4278 requires Oklahoma counties to use a new form for disabled veterans and surviving spouses who purchase new homes, ensuring they receive property tax exemptions they previously qualified for. The form must confirm prior exemption status on their old home, and county assessors must update property records to reflect the new exemption after a sale. Counties must also send missing tax bills to owners who didn’t receive them due to delays in updating eligibility. The bill takes effect November 1, 2026, streamlining the process for qualifying veterans and spouses to maintain their tax relief.
SB 1858 allows Oklahoma cities and counties to require property owners in designated development zones to enter binding agreements guaranteeing payments for project financing. These payments can secure bonds issued for development costs, with the property itself serving as collateral through liens that take priority over mortgages (but not existing tax liens). The bill ensures such bonds don't count as general municipal debt, limiting repayment solely to the agreed payments and project revenues. Property owners in these designated areas would face direct financial obligations under these agreements, while public entities act as conduits without assuming broader debt liability.
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.
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.
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.
SB 1829 exempts manufactured home owners in Oklahoma from paying the state's excise tax if they provide proof of current year property tax payment. It directly affects individuals purchasing or owning manufactured homes who already pay ad valorem (property) tax, requiring them to submit a Manufactured Home Certificate (OTC Form 936) or equivalent proof. The bill amends tax law to replace the standard excise tax calculation (based on 50% of retail price for new homes) with this exemption for qualifying homeowners. The law takes effect November 1, 2026.
This constitutional amendment (SJR 36) would create a phased property tax exemption for honorably discharged veterans and unremarried surviving spouses in Oklahoma. It provides increasing tax relief on household personal property and homesteads over four years: 25% in 2027, 50% in 2028, 75% in 2029, and full exemption by 2030. Eligibility requires Oklahoma residency and certification of honorable discharge (or surviving spouse status), expanding current exemptions beyond only disabled veterans. The amendment must be approved by voters as a constitutional change, not enacted by the legislature directly.
This bill proposes a constitutional amendment (HJR 1081) that would eliminate the income requirement for Oklahoma seniors to qualify for a property tax limit on their homesteads. Currently, seniors aged 65+ must meet an income threshold based on HUD median income for their area; this amendment removes that requirement while keeping the age, 7-year occupancy, and $700,000 property value cap. It would apply only to homesteads valued at $700,000 or less, with the tax limit frozen at the value when the owner turned 65 (or January 1, 1997, for those already eligible before 1997). The change requires voter approval via a ballot measure.
This bill increases Oklahoma's homestead tax exemption for eligible homeowners by the annual change in their property's fair market value, but only if their household income is at or below three times the state median. The county assessor must adjust the exemption each year based on the previous year's property value change. Homeowners exceeding the income threshold will retain their current exemption amount until income drops below the limit, and exemptions stay frozen if property values decrease. The change takes effect January 1, 2027.
