Assigns fair cash value for homesteads displaced by turnpike construction in Oklahoma.
Oklahoma SB2147 establishes a new law assigning a fair cash value for homesteads displaced by turnpike construction. Specifically, if an individual's homestead is purchased by the Department of Transportation for turnpike construction or expansion, and they claim a subsequent homestead exemption, the new homestead will be assigned the same taxable fair cash value as the previous one for the tax year of the purchase. This act will become effective November 1, 2026.
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