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OK HJR1027
Joint Resolution
Status
2/7/2011
Primary Sponsor
Eric Proctor
Click for details
AI Summary
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Proposes amendment to Section 8C of Article X of the Oklahoma Constitution regarding homestead property tax valuation for qualifying individuals
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Reduces the age qualification from sixty-five (65) years to sixty (60) years of age for homestead property valuation cap protection
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Maintains requirement that gross household income not exceed amount determined by HUD median income for the county; includes improved property value calculations
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Effective beginning January 1, 2013; implements provisions for income threshold verification by Oklahoma Tax Commission to county assessors
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Directs Secretary of State to place proposed amendment on ballot with specified ballot title language for voter approval or rejection
Legislative Description
Constitutional amendment; ad valorem taxation; valuation increases; homesteads; qualifying age; ballot title; filing.
Revenue and Taxation
Last Action
Second Reading referred to Rules
2/8/2011