OK HB3564

Amends Oklahoma's existing $1,000 homestead exemption from ad valorem (property) taxation by adding an additional exemption for qualifying seniors

Homeowners age 65 or older with gross household income at or below triple the state median qualify for an increased exemption equal to any year-over-year increase in their home's fair cash value

If a qualifying homeowner later exceeds the income threshold, their total exemption amount freezes at the previous level until they meet the income requirement again

County assessors must annually calculate fair cash value changes for each eligible homestead and adjust exemptions accordingly

Effective date: January 1, 2027