Oklahoma County Assessor Warns Property Tax Relief Plan Would Devastate Schools, Counties

State lawmakers propose cutting homeowners' property taxes, but assessor says it would drastically slash funding for public schools, law enforcement, and local governments.

Published on Feb. 20, 2026

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Oklahoma County Tax Assessor Larry Stein has warned that a proposed plan to cut homeowners' property taxes in the state would have severe consequences, drastically reducing funding for public schools, law enforcement agencies, and other local governments. Stein argues that the plan, part of a bill authored by Senate President Pro Tem Lonnie Paxton, would cost these entities around $1.2 billion in the first year, which he says would be devastating. Stein believes the state's property taxes are already among the lowest in the country and that the real driver of high housing costs is insurance, not property taxes.

Why it matters

This proposed property tax relief plan has significant implications for the funding of essential public services in Oklahoma, including education, public safety, and local government operations. The assessor's warnings highlight the potential trade-offs and unintended consequences that lawmakers must carefully consider before implementing sweeping changes to the state's property tax system.

The details

The proposed plan would increase Oklahoma's homestead exemption, the portion of a home's value that is not taxed, from $1,000 to $5,000. Stein estimates this would remove roughly $1.2 billion, or one-fifth, of the approximately $5.7 billion in total property tax revenue currently shared by public schools, career tech districts, and county governments. Stein argues that this level of funding loss would be devastating, saying "If you lose $1.2 billion for funding education... you're not cutting fat, you're cutting limbs." He believes the state's property taxes are already among the lowest in the country and that the real driver of high housing costs is insurance, not property taxes.

  • The proposed property tax relief plan is part of a bill authored by Senate President Pro Tem Lonnie Paxton, R-Tuttle.
  • Earlier this month, Paxton criticized proposals to fully eliminate or freeze property taxes, saying he would only support a plan "that's not going to destroy counties and schools."

The players

Larry Stein

The Oklahoma County Tax Assessor, a Republican, who has warned that the proposed property tax relief plan would have severe consequences for public schools, law enforcement agencies, and other local governments.

Lonnie Paxton

The Republican Senate President Pro Tem of Oklahoma, who has authored the bill proposing to increase the homestead exemption and provide property tax relief to homeowners.

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What they’re saying

“I don't I'm not a big government guy, but I'm a responsible government guy. I could see a dramatic, dramatic change in our ability to be able to operate the state of Oklahoma.”

— Larry Stein, Oklahoma County Tax Assessor (KFOR)

“If you lose $1.2 billion for funding education... you're not cutting fat, you're cutting limbs. If you want to preserve local governments... preserve the school system... you've got to keep funding them.”

— Larry Stein, Oklahoma County Tax Assessor (KFOR)

What’s next

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The takeaway

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