Oklahoma Amends Ad Valorem Tax Provisions

The Oklahoma Governor signed a law amending the state’s ad valorem tax statutes to add a definition for “residential rental housing” and establish a temporary mandatory valuation methodology for certain newly constructed multifamily rental properties. The law also makes several technical and conforming amendments to existing valuation language. The law takes effect Nov. 1. [S.B. 2018, enacted 05/11/26]