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OK SB2147
OK SB2147Ad valorem tax; assigning certain fair cash value for homestead of those displaced by turnpike construction. 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 ad valorem; assigning fair cash value for certain homesteads of taxpayers displaced by turnpike construction; providing for codification; and providing an effective date.
AI Summary
This bill establishes a new provision for homeowners in Oklahoma whose primary residence, known as a homestead, was acquired by the Department of Transportation for turnpike construction or expansion. Specifically, if such an individual claims a homestead exemption on a new property, the initial taxable value of this new homestead will be set at the same amount as the taxable value of their previous homestead in the year it was purchased for the turnpike project. This measure aims to provide financial relief to those displaced by such infrastructure projects by preventing an immediate increase in their property tax burden on a replacement home. The bill is set to become effective on November 1, 2026.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Second Reading referred to Revenue and Taxation Committee then to Appropriations Committee (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=sb2147&Session=2600 |
| Fiscal Note/Analysis - Senate: Introduced | https://www.oklegislature.gov/cf_pdf/2025-26%20SUPPORT%20DOCUMENTS/BILLSUM/Senate/SB2147%20INT%20BILLSUM.PDF |
| BillText | https://www.oklegislature.gov/cf_pdf/2025-26%20INT/SB/SB2147%20INT.PDF |
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