Read the full stored bill text
Req. No. 15755 Page 1
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
STATE OF OKLAHOMA
2nd Session of the 60th Legislature (2026)
HOUSE JOINT
RESOLUTION 1064 By: Woolley
AS INTRODUCED
A Joint Resolution directing the Secretary of State
to refer to the people for their approval or
rejection a proposed amendment to Section 8C of
Article X of the Constitution of the State of
Oklahoma; eliminating income threshold for limitation
on fair cash value of homestead; requiring head of
household to own their homestead free and clear of
any mortgage or other indebtedness; providing ballot
title; and directing filing.
BE IT RESOLVED BY THE HOUSE OF REPRESENTATIVES AND THE SENATE OF THE
2ND SESSION OF THE 60TH OKLAHOMA LEGISLATURE:
SECTION 1. The Secretary of State shall refer to the people for
their approval or rejection, as and in the manner provided by law,
the following proposed amendment to Section 8C of Article X of the
Constitution of the State of Oklahoma to read as follows:
Section 8C A. Despite any provision to the contrary, beginning
January 1, 2005 2027, the fair cash value, as determined by law, on
each homestead of an individual head of household whose gross
household income from all sources for the preceding calendar year
did not exceed an amount as provided in subsection B of this
section, and which individual head of household who is sixty-five
Req. No. 15755 Page 2
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
(65) years of age or older, shall not exceed the fair cash value
placed upon the property during the first year in which the
individual head of household was sixty-five (65) years of age or
older and had gross household income from all sources which did not
exceed an amount as provided in subsection B of this section.
Subject to the limitations of this section, the fair cash value
shall not exceed such amount as long as the individual head of
household who is sixty-five (65) years of age or older owns and
occupies the property and as long as the gross household income from
all sources does not exceed an amount as provided in subsection B of
this section free and clear of any mortgage or other indebtedness.
If any improvements are made to the property, the fair cash value of
the improvements shall be assessed in accordance with law by the
county assessor and added to the assessed value of the property.
Once the fair cash value of the improvements has been added to the
fair cash value of the property, the total fair cash value shall not
exceed the revised valuation of the property so long as the
individual head of household who is sixty-five (65) years of age or
older owns and occupies the property and so long as the gross
household income from all sources does not exceed an amount as
provided in subsection B of this section free and clear of any
mortgage or other indebtedness. For any individual head of
household who is sixty-five (65) years of age or older prior to
January 1, 1997, and has gross household income from all sources of
Req. No. 15755 Page 3
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
Twenty-five Thousand Dollars ($25,000.00) or less in calendar year
1996, the fair cash value of the real property shall be the fair
cash value placed upon the property on January 1, 1997. If the
individual head of household ceases to own and occupy the property
or if the gross household income from all sources exceeds an amount
as provided in subsection B of this section, the fair cash value of
the property shall be determined as if the provisions of Section 8
of Article X of the Constitution of the State of Oklahoma or any
other provisions relating to a limitation on the fair cash value of
locally assessed real property had been in effect during the time
the property was valued pursuant to the provisions of this section.
B. The income threshold for the gross household income from all
sources for an individual head of household under this section shall
not exceed the amount determined by the United States Department of
Housing and Urban Development to be the estimated median income for
the preceding year for the county or metropolitan statistical area
which includes such county. The Oklahoma Tax Commission shall
provide such information to each county assessor each year as soon
as such information becomes available.
SECTION 2. The Ballot Title for the proposed Constitutional
amendment as set forth in SECTION 1 of this resolution shall be in
the following form:
BALLOT TITLE
Legislative Referendum No. ____ State Question No. ____
Req. No. 15755 Page 4
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
THE GIST OF THE PROPOSITION IS AS FOLLOWS:
This measure amends Section 8C of Article 10 of the Oklahoma
Constitution. Increases in fair cash value of homesteads are
limited for individual heads of household age sixty-five (65) or
older. The increase cannot exceed the fair cash value of the
property during the first year in which the owner was sixty-five
(65) years of age or older. This limit applies if the
individual head of household meets both the age requirement and
an income limit determined by the United States Department of
Housing and Urban Development. This measure would eliminate the
income limit requirement. The age limit would not change. This
measure would require the individual head of household to own
their home free and clear of any mortgage or indebtedness.
SHALL THE PROPOSAL BE APPROVED?
FOR THE PROPOSAL — YES _____________
AGAINST THE PROPOSAL — NO _____________
SECTION 3. The Chief Clerk of the House of Representatives,
immediately after the passage of this resolution, shall prepare and
file one copy thereof, including the Ballot Title set forth in
SECTION 2 hereof, with the Secretary of State and one copy with the
Attorney General.
60-2-15755 AO 01/06/26