OK HJR1029

Amends Section 8C of Article X of the Oklahoma Constitution to modify valuation provisions for homesteads owned by individuals aged 65 and older.

Clarifies language regarding the "homestead freeze" - freezing fair cash value of homesteads for elderly homeowners whose gross household income does not exceed HUD-determined median income for their county.

Establishes that income threshold shall be based on United States Department of Housing and Urban Development estimated median income for the preceding year, with Oklahoma Tax Commission providing information to county assessors annually.

Directs Secretary of State to refer the proposed amendment to voters for approval with specified ballot title stating the measure "clarifies language" related to homestead property valuation for ad valorem tax purposes.