OKLAHOMA CITY – Rep. Ross Ford, R-Broken Arrow, has filed legislation that initially would increase the ad valorem tax exemption homeowners are allowed each year from $1,0000 to $2,315.

 Under House Bill 4103, beginning in 2032 and every five years thereafter, the amount would increase by a percentage equal to the percentage change in the Consumer Price Index for the most recent five-year period for which final data is available immediately preceding the adjustment date.

"There's been a lot of discussion about the elimination of property taxes," Ford said. "The consequent worry, however, is what that might mean for core services such as public education, safety, infrastructure and many other areas," Ford said. "This approach strikes a balance between giving homeowners a larger exemption on their property taxes while still supporting the services and programs they use every day."

Rep. Mark Chapman, R-Broken Arrow, is a co-author on the bill.

"Property tax relief is something homeowners across Oklahoma care deeply about,” Chapman said. “At the same time, we have to be mindful of how changes might affect the local services on which families rely. This bill takes a responsible approach by providing meaningful relief while maintaining long-term stability for our communities."

If enacted, the legislation would take effect Jan. 1, 2027.

HB4103 has been assigned to the House Appropriations and Budget Finance Subcommittee. If it passes there, it would face a vote in the full A&B Committee before being eligible for a vote by the full membership of the House. Bills have until Feb. 19 to pass out of subcommittee.