Shown verbatim: the complete text as captured from the official PDF posted by the Oklahoma Legislature, fetched 2026-07-23. Page and line markers are part of the official record; nothing is edited or removed. The official bill page.
1 STATE OF OKLAHOMA
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2 2nd Session of the 60th Legislature (2026)
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3 SENATE BILL 1987 By: Bullard
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6 AS INTRODUCED
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7 An Act relating to ad valorem; amending 68 O.S. 2021,
7 Section 2889, which relates to classifications of
8 homesteads; modifying exemption amount of homesteads
8 for certain tax years; providing additional homestead
9 exemption upon meeting certain conditions; and
9 providing an effective date.
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12 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
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13 SECTION 1. AMENDATORY 68 O.S. 2021, Section 2889, is
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14 amended to read as follows:
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15 Section 2889. A. Homesteads, as defined in Section 2888 of
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16 this title, are hereby classified for the purpose of taxation as
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17 provided in Section 22 of Article X of the Oklahoma Constitution.
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18 All homesteads in this state shall be assessed for taxation the same
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19 as other real property therein, except that each homestead, as
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20 defined by Section 2801 et seq. of this title, shall be exempted
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21 from all forms of ad valorem taxation to the extent of One Thousand
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22 Dollars ($1,000.00) of the assessed valuation for tax years 1988
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23 through 2026, and Two Thousand Dollars ($2,000.00) for tax year 2027
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24 and subsequent tax years.
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Req. No. 2354 Page 1
1 B. In addition to the exemption provided for in subsection A of
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2 this section, for tax year 2027 and subsequent tax years, homesteads
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3 exempt from ad valorem taxation pursuant to this section shall be
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4 further exempted from all forms of ad valorem taxation to the extent
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5 of Three Thousand Dollars ($3,000.00) of the assessed valuation if
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6 the following conditions are satisfied:
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7 1. For the prior tax year, the county excise board in the
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8 county where the homestead is located certifies that ad valorem
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9 revenue collections exceeded the collections from the preceding tax
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10 year by at least five percent (5%); and
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11 2. The board of county commissioners in the county where the
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12 homestead is located, upon receipt of a certification made pursuant
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13 to paragraph 1 of this subsection, approves the additional exemption
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14 provided for in this subsection.
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15 SECTION 2. This act shall become effective November 1, 2026.
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17 60-2-2354 QD 1/15/2026 9:37:37 AM
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Req. No. 2354 Page 2Every fact on this page links to its source, starting with the official bill record.