Bill > SB2146

This bill modifies the definitions related to homestead exemptions for ad valorem taxation in Oklahoma, specifically concerning the acreage limitations for rural homesteads. It clarifies that a rural homestead will not be limited to 160 acres if it includes land classified as agricultural land or land with an agricultural use category, as defined in Section 2802 of Oklahoma Statutes. This exception also applies to any residential and nonresidential improvements on such land. Conversely, urban homesteads, which are located within cities or towns or platted subdivisions, will not include land classified as agricultural land or land with an agricultural use category, and their area will not exceed one acre. The bill also makes minor technical changes to existing language and specifies an effective date of January 1, 2027.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb2146&Session=2600