The bill amends Sections 2802 and 2821 of the Oklahoma Ad Valorem Tax Code to update definitions and inspection processes for real property. Notably, it modifies the definition of "accepted standards for mass appraisal practice" to specify that these standards are maintained by the International Association of Assessing Officers. Additionally, the bill introduces the term "fixed-wing aircraft" and clarifies that it refers to manned airplanes, excluding unmanned aircraft. The bill also allows for the use of digital visual technology, such as aerial images from fixed-wing aircraft or satellites, to assist in the inspection of real property, replacing the requirement for physical inspections.

Furthermore, the bill mandates that county assessors maintain comprehensive sales files for each parcel of real property and acquire cadastral maps and a parcel identification system to facilitate accurate valuations. The standards for these maps and systems will be uniform across counties and developed by the Oklahoma Tax Commission. The effective date for the implementation of these changes is set for November 1, 2026.