Ad valorem taxation; creating the Property Tax Transparency Act; requiring the State Auditor and Inspector to enforce the provisions of the act. Effective date. Emergency.

SB 679, the Property Tax Transparency Act, requires Oklahoma counties to provide property owners with detailed annual tax bills showing exactly how their taxes are calculated and spent. The bill mandates clear breakdowns of a property's fair market value, assessment ratio, applicable exemptions, tax rates for each local entity (like schools or police), and a percentage-based allocation of taxes to categories such as public safety or infrastructure. It also requires counties to maintain an online portal for property owners to access their tax data and submit valuation disputes, and to send tax bills directly to owners even if payments are handled through escrow. Violations like failing to send bills or providing inaccurate information can result in fines up to $1,000 per incident, with funds allocated to the State Auditor, county, and municipality. This law directly affects all property owners and local governments responsible for tax assessments in Oklahoma.