Oklahoma HB3433 establishes an in lieu tax on farm tractors and agricultural equipment, replacing ad valorem taxation.
Oklahoma HB3433 introduces an in lieu tax of Fifteen Dollars ($15.00) per year on farm tractors and other machinery used in agricultural production. This tax replaces the ad valorem tax that would otherwise be imposed. The bill also repeals Section 2809 of the Oklahoma Statutes, which previously addressed farm tractor taxation. The new provisions are set to become effective November 1, 2026.
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