This bill mandates that county assessors in Oklahoma provide annual notifications to real property taxpayers, detailing essential information such as current and proposed millage rates, revenue neutral millage rates, the purpose of any proposed revenue increases, and voting records of governing body members on these changes. The notifications can be included with other required statements sent to taxpayers. Additionally, taxing jurisdictions are required to supply necessary information to the county assessor to meet these notification requirements.

Furthermore, the Oklahoma Tax Commission is tasked with maintaining a dedicated webpage that will offer historical and current property tax millage rates, assessed values for real and personal property, proposed changes to millage rates, and a platform for public comments on these proposals. Local governing bodies must also provide relevant information to the Tax Commission to support these initiatives. The bill is set to take effect on November 1, 2026.