Oklahoma Senator David Bullard has introduced a bill that could significantly alter the way homeowners and senior citizens handle property taxes. The Republican from Durant has put forth the Ad Valorem Reform Act of 2026, targeting the property tax system in an aim to relieve homeowners, especially the elderly, of an ongoing financial burden. Detailed in the legislation is a plan to abolish property taxes for residents over 65 who own their primary home, as well as a freeze on property taxes for all other eligible homeowners. The full text of the proposed legislation can be found on the Oklahoma State Senate's website.
The shift away from property taxes, according to Bullard's proposed legislation, would be balanced by restructuring the funding for local governments and public schools through sales and consumption taxes. This approach is envisioned to create a so-called fair tax model, pivoting from taxes that hinge on productivity to a system aligned with consumer spending. As Bullard puts it, "After all, do we really own our property if we pay taxes on it?" This contention echoes a sentiment of frustration among taxpayers who feel that long-term homeownership is compromised by the perpetual tax payments, as stated by the Oklahoma State Senate.
To address the potential constitutional challenges and bureaucratic delays, Senate Joint Resolution 23 also proposes transferring all constitutional language related to property taxes into a more malleable state statute. Bullard's goal with this legislation appears to be a double-edged sword: offering financial relief to homeowners while ensuring local entities like schools do not suffer from funding deficits. "We can eliminate this unjust tax, but any changes must be implemented slowly and carefully," Bullard stated, indicating a wariness of hasty reforms that could destabilize crucial public services, as reported by the Oklahoma State Senate.
The Ad Valorem Reform Act could be considered in the 2026 legislative session starting February 2. Because it proposes changing the state constitution, it would need to be approved by voters statewide if lawmakers pass it. If the act becomes law, it could significantly change how property taxes work in Oklahoma. Senior citizens might no longer have to pay property taxes, supporting Bullard’s goal of giving homeowners more complete ownership of their property, as per the Oklahoma State Senate.
