Revenue and taxation; ad valorem; definition; physical inspection; exemptions; effective date.

HB 1890 removes the requirement for physical property inspections in Oklahoma's property tax system, allowing county assessors to use statistical methods instead for determining property values. It amends definitions in the ad valorem tax code to clarify that statistical approaches (like multiple regression analysis) can now be used to estimate fair cash value without direct property observation. The bill also modifies income cap provisions related to property tax calculations. This change directly affects county assessors, property owners, and the process for valuing taxable properties statewide.