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Resolution
ENROLLED SENATE
JOINT
RESOLUTION NO. 39 By: Paxton, Burns, and McIntosh
of the Senate
and
Hilbert, Wilk, Eaves,
Townley, Harris, Norwood,
Boles, Manger, Roberts,
Hildebrant, Chapman,
Wolfley, Grego, and Hardin
of the House
A Joint Resolution directing the Secretary of State
to refer to the people for their approval or
rejection proposed amendments to Section 8B and
Section 8C of Article X of the Oklahoma Constitution,
which relate to the limit on percentage of fair cash
value of real property and limit on the fair cash
value of homesteads for certain persons; reducing the
limit for certain tax years; requiring a limit on the
increase of fair cash value for certain persons over
age sixty-five; providing household income schedule;
providing ballot title; and directing filing.
SUBJECT: Real property valuation
BE IT RESOLVED BY THE SENATE AND THE HOUSE OF REPRESENTATIVES 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 amendments to Section 8B and Section 8C of
Article X of the Oklahoma Constitution to read as follows:
ENR. S. J. R. NO. 39 Page 2
Section 8B. Despite any provision to the contrary, on and after
January 1, 2013, the fair cash value of any parcel of locally
assessed real property shall not increase by more than five percent
(5%) in any taxable year for tax years 2013 through 2026 and four
percent (4%) for tax year 2027 and subsequent tax years; provided,
if such property qualified for a homestead exemption or is
classified as agricultural land, any increase to the fair cash value
of such locally assessed real property in a taxable year shall be
limited to three percent (3%) for tax years 2013 through 2026 and
one and seventy-five-hundredths percent (1.75%) for tax year 2027
and subsequent tax years. The provisions of this section shall not
apply in any year when title to the property is transferred,
changed, or conveyed to another person or when improvements have
been made to the property. If title to the property is transferred,
changed, or conveyed to another person, the property shall be
assessed for that year based on the fair cash value as set forth in
Section 8 of Article X of this Constitution. If any improvements
are made to the property, the increased value to the property as a
result of the improvement shall be assessed for that year based on
the fair cash value as set forth in Section 8 of Article X of this
Constitution. The provisions of this section shall not apply to any
personal property which may be taxed ad valorem or any property
which may be valued or assessed by the State Board of Equalization.
The Legislature shall enact any laws necessary to implement the
provisions of this section.
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 was within the limits
as prescribed by subsection B E of this section, and which
individual head of household is sixty-five (65) years of age or
older, shall not exceed the fair cash value placed upon the property
be subject to a limit on an increase as prescribed by subsection D
of this section 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
within the applicable limits as provided in subsection B E of this
section. Subject to the limitations of this section, the any
increase in the fair cash value shall not exceed such amount the
ENR. S. J. R. NO. 39 Page 3
percentage as prescribed by subsection D of this section, as
modified based upon gross household income amounts as provided by
subsection E of this section, for the applicable assessment year 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 is within the applicable limit as provided in subsection B E
of this section.
B. 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 is
within the applicable limits as provided in subsection B E of this
section.
C. 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 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 E 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 D. Except as otherwise provided by subsection E of this
section, the maximum percentage increase in the fair cash value of a
homestead property as authorized by this section shall not exceed
one and seventy-five-hundredths percent (1.75%) for the 2027 and all
subsequent assessment years.
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E. In order to qualify for the applicable limit on increases in
the fair cash value of the homestead as prescribed by subsection D
of this section, the income threshold for the gross household income
from all sources for an individual head of household under this
section shall not exceed be based upon 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 according
to the following schedule:
1. If the owner of the homestead had one hundred percent (100%)
or less than the median income amount, the limit on increases in the
fair cash value of the homestead as otherwise prescribed by
subsection D of this section shall not be applicable and for the
period of time the homestead property is owned by a person age
sixty-five (65) or older, there shall be no increase in the fair
cash value of the homestead except as otherwise provided by
subsection B of this section;
2. If the owner of the homestead had over one hundred percent
(100%) to one hundred twenty percent (120%) of the median income
amount, the percentage amount otherwise prescribed by subsection D
of this section shall be thirty-five-hundredths percent (0.35%);
3. If the owner of the homestead had over one hundred twenty
percent (120%) to one hundred forty percent (140%) of the median
income amount, the percentage amount otherwise prescribed by
subsection D of this section shall be seven-tenths percent (0.7%);
4. If the owner of the homestead had over one hundred forty
percent (140%) to one hundred sixty percent (160%) of the median
income amount, the percentage amount otherwise prescribed by
subsection D of this section shall be one and five-hundredths
percent (1.05%);
5. If the owner of the homestead had over one hundred sixty
percent (160%) to one hundred eighty percent (180%) of the median
income amount, the percentage amount otherwise prescribed by
subsection D of this section shall be one and four-tenths percent
(1.4%); and
ENR. S. J. R. NO. 39 Page 5
6. If the owner of the homestead had over one hundred eighty
percent (180%) of the median income amount, the homestead property
shall be subject to a limitation on increases in fair cash value of
one and seventy-five-hundredths percent (1.75%).
F. 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. ____
THE GIST OF THE PROPOSITION IS AS FOLLOWS:
This measure amends Section 8B and Section 8C of Article 10 of
the Oklahoma Constitution. Section 8B currently limits annual
growth in fair cash value of most types of real property to five
percent (5%) or to three percent (3%) for homesteads. For real
property for which a homestead exemption is granted and real
property classified as agricultural land, it would limit growth
to one and seventy-five-hundredths percent (1.75%) for 2027 and
subsequent years. For other types of real property, it would
limit growth in fair cash value to four percent (4%) annually.
The measure would change Section 8C in Article 10 that prohibits
any increase in fair cash value of homestead property for
persons age sixty-five (65) or older whose income does not
exceed certain limits. This provision is sometimes referred to
as the “senior freeze”. Instead of prohibiting any increase in
fair cash value for these homesteads, there would be an annual
limit of one and seventy-five-hundredths percent (1.75%). The
income test for this new structure would be different. The
annual limit could be reduced based on how much gross household
income the homestead owner had in the preceding year. Depending
on the amount of gross household income the property owner had
in the preceding year, if the income level was one hundred
percent (100%) or less of the income amount determined using an
income measurement from federal law, the fair cash value of the
ENR. S. J. R. NO. 39 Page 6
homestead could not increase. If the income amount was in
excess of certain thresholds, the limit on increases in fair
cash value for homesteads owned by persons age sixty-five (65)
or older could be thirty-five-hundredths percent (0.35%), seven-
tenths percent (0.7%), one and five-hundredths percent (1.05%),
one and four-tenths percent (1.4%) or one and seventy-five-
hundredths percent (1.75%).
SHALL THE PROPOSAL BE APPROVED?
FOR THE PROPOSAL — YES _____________
AGAINST THE PROPOSAL — NO _____________
SECTION 3. The President Pro Tempore of the Senate shall,
immediately after the passage of this resolution, 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.
Passed the Senate the 27th day of April, 2026.
Presiding Officer of the Senate
Passed the House of Representatives the 15th day of April, 2026.
Presiding Officer of the House
of Representatives
OFFICE OF THE SECRETARY OF STATE
Received by the Office of the Secretary of State this __________
day of __________________, 20 _______, at _______ o'clock _______ M.
By: _________________________________