HB4305

Establishes a valuation method for certain real property for ad valorem taxation in Oklahoma.

This bill establishes a valuation method for certain real property for ad valorem taxation in Oklahoma. It mandates the county assessor to determine the fair cash value of the property according to the valuation method. The bill outlines how fair cash value is determined after the first year the property has completed active construction and stabilizes. It also provides for when the property is not subject to the valuation method, codification, and an effective date of January 1, 2027.