OK SB1855

Extends the visual inspection cycle for taxable real property from 4 years to 5 years, requiring county assessors to physically inspect all parcels at least once every 5 years instead of every 4 years

Establishes the first cycle under the new 5-year timeline to begin January 1, 2027 and end December 31, 2031

Requires county assessors to submit inspection plans to the Oklahoma Tax Commission by the first working day of October preceding each 5-year cycle for approval

Updates statutory references from "Ad Valorem Task Force" to "Division" of the Oklahoma Tax Commission and makes language gender neutral throughout the Ad Valorem Tax Code

Effective date is January 1, 2027