Bill > HJR1001

This joint resolution proposes an amendment to the Oklahoma Constitution that modifies property tax protections for senior homeowners. Specifically, the amendment would eliminate the previous income threshold requirement for seniors and instead focus on age and occupancy criteria. Under the proposed changes, homeowners aged 65 or older would be eligible for a property tax valuation limit if they have occupied their homestead for at least ten consecutive years, with an allowance for up to 365 days of absence during that period. The fair cash value limitation would only apply to homes valued at $500,000 or less, and the property's valuation would be frozen at the value from the first year the homeowner turned 65. The resolution directs the Secretary of State to refer this proposed constitutional amendment to voters for approval, includes a detailed ballot title explaining the key provisions, and requires the Chief Clerk of the House of Representatives to file copies of the resolution with the Secretary of State and Attorney General. The amendment is designed to provide continued property tax relief for seniors while updating the existing constitutional provisions.

http://www.oklegislature.gov/BillInfo.aspx?Bill=hjr1001&Session=2600