OK SB1809

Increases the homestead exemption from ad valorem (property) taxation from $1,000 to $5,000 of assessed valuation beginning in tax year 2027

The $1,000 exemption level has been in place since 1988 and will remain through tax year 2026

Amends 68 O.S. 2021, Section 2889, which governs homestead property tax classifications

Effective date: November 1, 2026

Authored by Senators Paxton, Hamilton, and Jett; passed Committee on Revenue and Taxation as amended on February 16, 2026