OK HB2349

Veterans' disability compensation payments are excluded from the definition of "gross household income" when determining eligibility for Oklahoma's additional homestead exemption

The additional homestead exemption provides a $1,000 reduction in assessed valuation for heads of households with gross household income not exceeding $20,000 in the preceding calendar year

Applications for the exemption must be filed by March 15 or within 30 days of receiving a valuation increase notice, whichever is later

Persons age 65 or older who previously qualified do not need to reapply annually unless their income exceeds the $20,000 threshold

Effective date: November 1, 2016