Former, Current Legislators File Initiative to Eliminate Property Taxes

One former and two current state lawmakers are leading an effort to gradually reduce residential property taxes to zero by the end of the decade.

State Question 841, filed with the Oklahoma Secretary of State’s office on Nov. 21, looks to eliminate residential property taxes in Oklahoma by 2029. A 33.5% reduction would take effect in 2027, followed by a 67% decrease in 2028.

School district, municipal and county bonds passed prior to Dec. 31, 2026, would be exempt from State Question 841. Upon full implementation, the proponents estimate a fiscal impact of $1.2 billion in lost state revenue.