Oklahoma HB1198 modifies the definition of gross household income for the additional homestead exemption.
Oklahoma HB1198 amends the definition of gross household income for the additional homestead exemption, excluding veterans' disability compensation payments and federal stimulus or relief payments related to COVID-19. The exemption applies to heads of households with a gross household income of $30,000 or less. The application for the exemption must be made annually by March 15 or within 30 days of receiving notice of a valuation increase. The act takes effect November 1, 2025.
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