Oklahoma HB3308: Revenue and taxation; ad valorem; exemption; homestead; effective date.

What the bill says

An Act relating to revenue and taxation; creating an exemption from ad valorem taxation for certain homesteads; providing for uniform application of exemption; requiring exemption to supersede any lesser exemption; prohibiting exemption from applying in certain circumstances; directing the Oklahoma Tax Commission to promulgate rules and provide forms; requiring county assessors to apply exemption automatically to certain properties; providing for codification; and providing an effective date.

From the introduced text, January 14, 2026:

An Act relating to revenue and taxation; creating an exemption from ad valorem taxation for certain homesteads; providing for uniform application of exemption; requiring exemption to supersede any lesser exemption; prohibiting exemption from applying in certain circumstances; directing the Oklahoma Tax Commission to promulgate rules and provide forms; requiring county assessors to apply exemption automatically to certain properties; providing for codification; and providing an effective date. BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA: SECTION 1. NEW LAW A new section of law to be codified in the Oklahoma Statutes as Section 2888.1 of Title 68, unless there is created a duplication in numbering, reads as follows: A. For tax year 2027 and all subsequent tax years, every homestead qualified under the laws of this state shall be exempt from all ad valorem taxation as follows: Req. No. 15419 Page 1. For tax year 2027, in the amount equal to thirty-three and one-third percent (33 1/3%) of the full value of the homestead; 2. For tax year 2028, in the amount equal to sixty-six and twothirds percent (66 2/3%) of the full assessed value of the homestead; and 3. For tax year 2029 and all subsequent tax years, in the amount equal to one hundred percent (100%) of the full assessed value of the homestead. B. The …

Read the full official text

Sponsors

• Jay Steagall (R, HD-043) · primary sponsor

Latest actions

1. February 3, 2026: Second Reading referred to Rules
2. February 2, 2026: Authored by Representative Steagall
3. February 2, 2026: First Reading

Common questions

What is HB3308?

HB3308 is a bill in the Oklahoma Legislature (2026 Regular Session): Revenue and taxation; ad valorem; exemption; homestead; effective date.

What does HB3308 do?

In its own words: An Act relating to revenue and taxation; creating an exemption from ad valorem taxation for certain homesteads; providing for uniform application of exemption; requiring exemption to supersede any lesser exemption; prohibiting exemption from applying in certain circumstances; directing the Oklahoma Tax Commission to promulgate rules and provide forms; requiring county assessors to apply exemption automatically to certain properties; providing for codification; and providing an effective date.

What is the status of HB3308?

In committee as of February 3, 2026. Latest action: Second Reading referred to Rules (February 3, 2026).

Who sponsored HB3308?

Jay Steagall (R, HD-043).

Where is the official record for HB3308?

On the Oklahoma Legislature website: https://www.oklegislature.gov/BillInfo.aspx?Bill=HB3308&Session=2600