Oklahoma Legislature Enacts Property Tax Law Increasing Income Ceiling to Qualify for Additional Homestead Exemption

The Oklahoma State Legislature June 2 enacted a property tax law modifying eligibility for an additional $1,000 homestead exemption. The law was enacted without executive approval. The law includes a measure increasing the income eligibility ceiling to qualify for the additional homestead exemption to $30,000 from $25,000. The law takes effect Jan. 1, 2024. [H.B. 1008, became law without signature 06/02/23]

Reference: View Bill. View Legislative Information.