Bill > SB303

This bill modifies property tax relief provisions in Oklahoma, expanding eligibility and updating income limitations for claims. Specifically, the bill replaces the previous fixed income threshold of $12,000 with a more dynamic standard based on 75% of the median income for the county or metropolitan statistical area, as determined by the U.S. Department of Housing and Urban Development. The legislation adds new categories of eligible claimants, including disabled service members with at least 75% disability certified by the VA, first responders who received disability retirement benefits for line-of-duty injuries, and their surviving spouses. The bill also increases the maximum property tax relief claim from $200 to $1,000 per year. Additionally, it requires the Oklahoma Tax Commission to provide income limitation information to county assessors annually and makes the claim filing process more gender-neutral. The changes aim to provide broader property tax relief to seniors, disabled individuals, veterans, and first responders, with the provisions set to take effect on January 1, 2026. Claimants are still limited to one claim per year, and the relief is calculated based on property taxes paid that exceed 1% of household income.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb303&Session=2600