Revenue and taxation; ad valorem; valuation method; fair cash value; low income housing tax credit; county assessor; effective date.

Summary

The bill requires Oklahoma county assessors to value any real property that receives federal low‑income housing tax credits using the income‑approach method and to exclude the credit amount from the fair cash value. Owners of such properties must give written notice of the financing to the assessor by January 1 of the first year the property is assessed. The goal is to ensure assessments reflect true market‑derived values.

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

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