HB3135

Oklahoma HB3135 amends homestead exemption from ad valorem taxation, increasing the exemption amount and allowing for additional exemption under.

Oklahoma HB3135 amends the homestead exemption from ad valorem taxation by increasing the dollar amount of the exemption. It allows for an additional exemption if the county excise board certifies that ad valorem revenue collections exceed the prior tax year by at least five percent. The board of county commissioners must approve the additional exemption. This act becomes effective January 1, 2027.