576: 2025 Form 576 Natural Disaster Tax Credit for Residential Real Property Owners Only (2025)
Oklahoma · Oklahoma Tax Commission · Used for tax years 2025
Oklahoma Form 576 calculates a refundable income tax credit for residential property owners whose primary residence was damaged or destroyed by a qualifying natural disaster. It records property and disaster details and uses property taxes paid before the damage and after repairs
Who files this form
Form 576 is for residential real property owners claiming Oklahoma’s Natural Disaster Tax Credit. To qualify:
- Your Oklahoma primary residence must have been damaged or destroyed by a weather or fire event for which a Presidential Major Disaster Declaration was issued.
- The property must be within a declared federal disaster area.
- The property must be your primary residence both the year before and the year after the disaster.
- You must have been granted, or be eligible to claim, a homestead exemption both the year before and the year after the disaster.
- The residence must be repaired or rebuilt on the same property.
- The residence must be repaired or rebuilt and used as your primary residence no later than 36 months after the disaster.
You must be the owner of record for each tax year you claim the credit.
What you'll need
Have the following information available to complete the form:
- Your name as shown on your income tax return and your Social Security number.
- The property address, legal description including the county, and parcel identification number or account number.
- The property owners’ names, if different from the name at the top of the form.
- The qualifying natural disaster and its date.
- Property tax amounts paid for the year before the damage or destruction and the first year after the improvement is complete.
- Your home’s square footage for those two years if the rebuilt or repaired home is larger.
For your first claim, you may be asked to provide copies of property tax bills and the home’s square footage for both years to validate lines 1 and 2.
How to file
Read the information on the back of Form 576 before completing it.
- Enter your identifying information, property details, and qualifying disaster information. You can check qualifying disasters at fema.gov/disasters using the declaration type “Major Disaster Declarations.”
- On line 1, enter the allowed property tax paid for the first year after the improvement is complete. Adjust this amount if your home is larger than before the disaster.
- On line 2, enter the property tax paid for the year before the damage or destruction.
- Subtract line 2 from line 1 to calculate the 2025 credit on line 3.
- Calculate the credits for 2026 through 2029, with each year’s credit equal to 80% of the previous year’s credit.
Keep a copy of this form to file with your return for the next four years. Filing the form authorizes the Oklahoma Tax Commission to verify the information with the applicable County Assessor’s and/or Treasurer’s office.
The supplied text does not provide a mailing address or e-file directions.
Common mistakes
- Entering the full property tax amount after enlarging your home. If your repaired or rebuilt home has more square feet, divide its property tax by its current square footage, then multiply by its square footage in the year before the disaster. Enter that adjusted amount on line 1.
- Including amounts other than property tax. Lines 1 and 2 call for ad valorem property tax only.
- Claiming the credit after an ownership or title change. You must be the owner of record each year. The credit is not allowed if the property is transferred or the title is changed or conveyed.
- Not keeping the form. The form tells you to keep a copy to file with your return for the next four years.
Questions people ask
Is this credit refundable?
Yes. Form 576 describes the credit as refundable.
How is the first year’s credit calculated?
Subtract the property tax paid in the year before the damage or destruction from the allowed property tax paid in the first year after the improvement is complete. The allowed post-improvement tax is based on the same or similar square footage as the damaged or destroyed home.
How long can I claim the credit?
Eligible taxpayers can claim it for five consecutive years. After the first year, each year’s credit is 80% of the previous year’s credit. This form calculates credits for tax years 2025 through 2029.
What happens to earlier credits if I transfer the property?
Credits claimed and allowed before the property transfer or title change are not affected. The credit is not allowed after the property is transferred or the title is changed or conveyed.