Ad valorem tax; requiring assessors to provide certain disclosure and notification; requiring Oklahoma Tax Commission to maintain webpage. Effective date.

SB 1577 requires Oklahoma county assessors to send property taxpayers annual statements showing current millage rates, proposed changes, revenue-neutral rates (the rate that would keep tax revenue the same as the previous year), proposed spending details, public hearing information, and how officials voted on rate changes. It also mandates the Oklahoma Tax Commission to maintain a public webpage displaying historical and current property tax rates, assessed values, proposed rate changes, and a tool for submitting public comments. This affects all property owners and local taxing jurisdictions (counties, cities, school districts) by increasing transparency in how property tax rates are calculated and approved. The bill takes effect November 1, 2026.