Revenue and taxation; ad valorem; homestead exemption; age sixty-five or older; effective date.

Summary

The bill amends Oklahoma law to exempt the first $1,000 of a homestead’s assessed value from ad valorem taxation. It also removes all ad valorem taxes on homesteads owned by people who are 65 years old or older. The changes take effect on January 1, 2027.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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