Oklahoma legislation · 2026 Regular Session
Oklahoma HB2140: Revenue and taxation; Ad Valorem Tax Code; definitions; classifications of property; valuation procedures; effective date.
Status: In committee, February 26, 2026
What the bill says
An Act relating to revenue and taxation; amending O.S. 2021, Sections 2802, 2803, and 2817, as amended by Section 1, Chapter 374, O.S.L. 2022 (68 O.S. Supp. 2024, Section 2817), which relate to the Ad Valorem Tax Code; defining term; expanding classifications of property for purposes of ad valorem taxation; modifying the valuation procedure of certain real property for assessment; updating statutory references; updating statutory language; and providing an effective date.
From the engrossed text, March 27, 2025:
An Act relating to revenue and taxation; amending O.S. 2021, Sections 2802, 2803, and 2817, as amended by Section 1, Chapter 374, O.S.L. 2022 (68 O.S. Supp. 2024, Section 2817), which relate to the Ad Valorem Tax Code; defining term; expanding classifications of property for purposes of ad valorem taxation; modifying the valuation procedure of certain real property for assessment; updating statutory references; updating statutory language; and providing an effective date. BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA: SECTION 1. AMENDATORY 68 O.S. 2021, Section 2802, is amended to read as follows: Section 2802. As used in Section 2801 et seq. of this title: 1. "Accepted standards for mass appraisal practice" means those standards for the collection and analysis of information about taxable properties within a taxing jurisdiction permitting the accurate estimate of fair cash value for similar properties in the ENGR. H. B. NO. 2140 Page juri sdiction either without direct observation of such similar properties or without direct sales price information for such similar properties using a reliable statistical or other method to estimate the values of such properties; 2. "Additional homestead exemption" means the exemption provided by Section 2890 of this title; 3. "Assessor" means the county assessor and, unless the context clearly requires otherwise, deputy assessors and persons employed by the county …