Bill > HB3434

This bill, effective November 1, 2026, modifies the requirements for ad valorem tax billing statements sent to taxpayers in Oklahoma by requiring the Oklahoma Tax Commission to create a standardized form that county treasurers must use. The updated statements will provide a more detailed breakdown of how property taxes are calculated, including the fair cash value of the property in both the preceding and current years, how that value was limited by constitutional provisions, the assessment percentages used, and whether a net assessed value was determined after subtracting certain amounts from the gross assessed value. Additionally, the statements will clearly show the millage rate (the tax rate expressed as a percentage) for each taxing jurisdiction, presented in a way that facilitates calculation of tax liability, and will include an example of how to compute the tax owed to each jurisdiction. The bill also mandates that the statement explain the percentage of the total ad valorem tax liability derived from each millage rate, providing a clearer understanding of how tax dollars are distributed among different local governments and entities.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb3434&Session=2600