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

Summary

The bill amends Oklahoma law to give each homestead a small exemption from ad valorem (property) taxes, covering between $1,000 and $2,000 of the property's assessed value. It applies to all residential homesteads in the state and takes effect on November 1, 2026. The change is intended to reduce the tax burden on homeowners.

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