Revenue and taxation; ad valorem; homestead exemption; definition; effective date.

Also relevant to:Homeowner

Where it is in the process

Plain-English Summary

This bill changes the definition of "gross household income" for an additional homestead exemption in Oklahoma. It removes veterans' disability payments and COVID-19 relief payments from the definition, instead using federal adjusted gross income from the most recent tax return. This change affects heads of households seeking a $1,000 property tax exemption, making it easier for some veterans and others to qualify.

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