OKLAHOMA Taxable Personal Property (2024)

Goods in transit and inventories of motor vehicles and manufactured homes subject to the state annual excise tax are exempt.

Qualified manufacturing businesses are eligible for an abatement of personal property taxes.

Individuals 62 years of age or older with an annual income below $10,000, who own and reside in a manufactured home located on land not owned by the homeowner, are eligible for a personal property tax exemption on the manufactured home equal to $2,000.

Motor vehicles are subject to an annual registration fee in lieu of a property tax.

Household goods, tools, implements and livestock used in support of a family and not exceeding $100 in value are exempt. At local option, the exemption can be increased to the full value. One year's worth of food and fuel, one year's worth of grain and forage for livestock, family portraits, animals, fowls, and reptiles used for exhibition or propagation, and all growing crops are exempt. Household personal property less than $300 in value owned by an honorably discharged or active duty veteran that served or is serving during a national emergency, or their surviving spouse, and household property owned by honorably discharged veterans that are 100% disabled, or their surviving spouse, is exempt.

Okla. Stat. tit. 68 § 2902; (in effect for 2020)

Okla. Stat. tit. 47 § 1102(16);
Okla. Stat. tit. 47 § 1135;
Okla. Stat. tit. 68 § 2812;
Okla. Stat. tit. 68 § 2949;
Okla. Stat. tit. 68 § 5306 (in effect for 2020)

Okla. Stat. tit. 47 § 1103;
Okla. Stat. tit. 68 § 2805 (in effect for 2020)

To reference this webpage/table, please use the following citation:

Significant Features of the Property Tax. https://www.lincolninst.edu/taxable-personal-property/oklahoma-taxable-personal-property-oklahoma-2020 Lincoln Institute of Land Policy and George Washington Institute of Public Policy. (OKLAHOMA Taxable Personal Property; accessed: 04/21/2024 09:12:43 AM)