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OK HJR1026
Joint Resolution
Status
2/3/2025
Primary Sponsor
Max Wolfley
Click for details
AI Summary
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Directs the Secretary of State to refer a proposed constitutional amendment to Section 8C of Article X to Oklahoma voters for approval or rejection.
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Doubles the income threshold limit for homestead property tax benefits for individuals age 65 and older, changing it from the current amount to double the median income determined by the U.S. Department of Housing and Urban Development for the applicable county or metropolitan statistical area.
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Maintains existing homestead exemption provisions where property fair cash value cannot increase after the owner reaches age 65 and qualifies, as long as the owner occupies the property and income remains within the threshold.
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Requires the Oklahoma Tax Commission to provide annual median income information to county assessors to determine eligibility thresholds in each county.
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Directs the House Chief Clerk to file the resolution and ballot title with the Secretary of State and Attorney General immediately after passage.
Legislative Description
Oklahoma Constitution; ad valorem; fair cash value for homestead exemption; ballot title; filing.
Last Action
Second Reading referred to Rules
2/4/2025