Bill > HB1890

This bill modifies several aspects of Oklahoma's ad valorem (property) tax code, primarily focusing on property assessment and tax relief for seniors and disabled residents. The bill removes the requirement for physical examination of properties during assessment, instead allowing for alternative data collection methods such as statistical analysis and remote assessment techniques. It increases the income cap for property tax relief from $12,000 to $30,000 for individuals 65 or older or totally disabled persons who are heads of households. The bill also raises the maximum property tax relief amount from $200 to $1,000 for eligible individuals. These changes aim to modernize property assessment processes by eliminating mandatory physical inspections and expand tax relief for qualifying residents by increasing income thresholds and potential relief amounts. The modifications will take effect on November 1, 2025, providing county assessors and taxpayers time to adjust to the new regulations. Key terms like "ad valorem" refer to property taxes based on the assessed value of real estate, and the bill updates various sections of Oklahoma's tax code to reflect these changes.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb1890&Session=2600