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Bill > HB3347
OK HB3347
OK HB3347Revenue and taxation; ad valorem; homestead exemption; age sixty-five or older; effective date.
summary
Introduced
02/02/2026
02/02/2026
In Committee
02/03/2026
02/03/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
An Act relating to revenue and taxation; amending 68 O.S. 2021, Section 2889, which relates to the exemption on homesteads for purposes of ad valorem taxation; allowing for exemption from ad valorem taxation on homeowner's homestead if homeowner is age sixty-five or older; and providing an effective date.
AI Summary
This bill amends existing Oklahoma law regarding property taxes, specifically the homestead exemption, which is a reduction in the amount of property value that is subject to taxation for a person's primary residence. Currently, all homesteads are exempt from ad valorem taxation (taxes based on the assessed value of property) up to $1,000 of their assessed valuation. This bill adds a new provision that, in addition to the existing exemption, will exempt homeowners who are age sixty-five or older from all forms of ad valorem taxation on their homestead, meaning their entire primary residence would be tax-exempt. This change is authorized by Article XII-A of the Oklahoma Constitution and will take effect on January 1, 2027.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Referred to Appropriations and Budget Finance Subcommittee (on 02/03/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | http://www.oklegislature.gov/BillInfo.aspx?Bill=hb3347&Session=2600 |
| BillText | https://www.oklegislature.gov/cf_pdf/2025-26%20INT/hB/HB3347%20INT.PDF |
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