Revenue and taxation; ad valorem taxation; homestead exemption amount; effective date.

Also relevant to:Homeowner

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Plain-English Summary

This bill increases the homestead exemption from ad valorem property taxes in Oklahoma. If passed, the exemption would rise from $1,000 to $7,000 of a homestead's assessed valuation, reducing the taxable value for homeowners. This change would take effect on January 1, 2027.

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