Revenue and taxation; ad valorem; homestead exemption; increase in homestead exemption; effective date.

This bill changes the ad valorem tax exemption for homesteads in Oklahoma. It increases the exemption for homeowners aged 65 or older whose household income is at or below three times the state's median income. The increase would match the rise in the home's fair cash value from the previous year, and county assessors would adjust this exemption annually.

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