Revenue and taxation; real property; terms; method; fair cash value; credits; rates; audit; effective date.

Summary

The bill creates a new way for county assessors to value real estate owned by organizations that rent to low‑ or moderate‑income families and were financed under the Oklahoma Affordable Housing Act. It also adds an additional tax if such a property is sold and leaves the affordable‑housing program, with a tax lien to secure payment. Owners must provide audited financial statements each year and can be notified of eligibility changes.

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

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