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STATE OF OKLAHOMA
2nd Session of the 60th Legislature (2026)
SENATE BILL 1885 By: Jett
AS INTRODUCED
An Act relating to ad valorem tax; amending 68 O.S.
2021, Section 2889, which relates to homestead
exemption; modifying exemption amount of homesteads
for certain tax years; superseding exemptions
otherwise provided by law; and providing an effective
date.
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. AMENDATORY 68 O.S. 2021, Section 2889, is
amended to read as follows:
Section 2889. Homesteads, as defined in Section 2888 of this
title, are hereby classified for the purpose of taxation as provided
in Section 22 of Article X of the Oklahoma Constitution. All
homesteads in this state shall be assessed for taxation the same as
other real property therein, except that each homestead, as defined
by Section 2801 et seq. of this title, shall be exempted from all
forms of ad valorem taxation to the extent of One Thousand Dollars
($1,000.00) of the assessed valuation.
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A. Beginning with tax year 2027 and thereafter, every homestead
qualified under the laws of this state shall be entitled to an
exemption from ad valorem taxation as follows:
1. For tax year 2027: an amount equal to thirty-three and one-
third percent (33 1/3%) of the full assessed value of the homestead;
2. For tax year 2028: an amount equal to sixty-six and two-
thirds percent (66 2/3%) of the full assessed value of the
homestead; and
3. For tax year 2029 and all subsequent tax years: an amount
equal to one hundred percent (100%) of the full assessed value of
the homestead.
B. The exemption shall be the greater of any current exemption
for homesteads or that provided in subsection A and shall apply
uniformly to every qualifying homestead within the state and shall
supersede any lesser exemption provided by prior law.
SECTION 2. This act shall become effective January 1, 2027, and
shall first apply to ad valorem taxes payable in calendar year 2027.
60-2-3241 QD 1/15/2026 8:28:13 AM