Bill > HB4145

This bill, concerning revenue and taxation in Oklahoma, proposes to amend existing law regarding ad valorem taxation for homesteads, which are primary residences that qualify for certain tax benefits. Specifically, it increases the amount of assessed valuation that a homestead is exempted from all forms of ad valorem taxation, which is a tax based on the value of property, from one thousand dollars ($1,000.00) to seven thousand dollars ($7,000.00). The bill also specifies that this change will become effective on January 1, 2027.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb4145&Session=2600