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The Water Cooler
General Discussion
Oklahoma Homestead Exemption?
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<blockquote data-quote="Rod Snell" data-source="post: 2843110" data-attributes="member: 796"><p>OK, for people with expensive new homes, not so much of a deal. But remember property in Oklahoma is not assessed at full market value (mine bought 25yr ago is about 1/10 present market value).</p><p>So a 1K exemption on a 4K assessed old house may be a big deal for Grandma living on Social Security.</p><p>Oklahoma tax law has several small breaks that help if you're on low fixed income, that don't help those of us more fortunate.</p></blockquote><p></p>
[QUOTE="Rod Snell, post: 2843110, member: 796"] OK, for people with expensive new homes, not so much of a deal. But remember property in Oklahoma is not assessed at full market value (mine bought 25yr ago is about 1/10 present market value). So a 1K exemption on a 4K assessed old house may be a big deal for Grandma living on Social Security. Oklahoma tax law has several small breaks that help if you're on low fixed income, that don't help those of us more fortunate. [/QUOTE]
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