Okla. Const. art. XII, § 1
C. The homestead of any person within any city or town, owned and occupied as a residence only, or used for both residential and business purposes, shall consist of not exceeding one acre of land, to be selected by the owner.
For purposes of this subsection, at least seventy-five percent (75%) of the total square foot area of the improvements for which a homestead exemption is claimed must be used as the principal residence in order to qualify for the exemption. If more than twenty-five percent (25%) of the total square foot area of the improvements for which a homestead exemption is claimed is used for business purposes, the homestead exemption amount shall not exceed Five Thousand Dollars ($5,000).
E. Any temporary renting of the homestead shall not change the character of the same when no other homestead has been acquired.
Historical Data
Amended by Laws 1997, HB 1898, c. 104, § 1, eff. November 1, 1997; Amended by Laws 1997, HB 1709, c. 345, § 1, eff. November 1, 2004 (superseded document available).