Oklahoma SB2001 amends the homestead exemption to provide additional tax relief for individuals displaced by turnpike construction or expansion.
Oklahoma SB2001 amends the homestead exemption to provide additional tax relief for certain individuals who had their homesteads purchased for turnpike construction or expansion. This bill modifies the assessed valuation of their new homestead to match the previous homestead's ad valorem liability, ensuring they do not face higher tax burdens. The changes will take effect on November 1, 2026.
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