Homestead Exemption from Taxation

Section-A-1: Exemption from ad valorem taxation authorized.

All homesteads as is or may be defined under the Laws of the State of Oklahoma for tax exemption purposes, may hereafter be exempted from all forms of ad valorem taxation by the Legislature; provided, that all assessments, levies, encumbrances and other contract obligations incurred or made prior to the taking effect of such act of the Legislature shall in no way be affected or impaired by the exercise of Legislative power as authorized by this amendment.  

Section-A-2: Duration of exemption - Increase of homestead.

Any act of the Legislature, which is authorized by this amendment and which provides that homesteads shall be exempted from ad valorem taxation, shall be in full force and effect for a period of not less than twenty years from the date of the taking effect of such act and for such time thereafter as the same shall remain without repeal or amendment by the Legislature, provided, that the homestead as defined in any such act of exemption may be increased at any time but not diminished.