OK HJR1053

Proposes a constitutional amendment adding Section 9E to Article X, requiring county clerks to calculate a "revenue neutral rate" for each taxing subdivision by June 15 annually—the tax rate that would generate the same property tax revenue as the previous year

Prohibits local taxing subdivisions from levying property tax rates exceeding the revenue neutral rate unless the governing body publishes notice, holds a public hearing by September 15, and approves the higher rate by majority vote via resolution or ordinance

Requires county clerks to notify affected taxpayers by mail or electronic means at least 10 days before public hearings, with notices including the revenue neutral rate, proposed rate, estimated taxes, and hearing details—costs borne by the taxing subdivision

Mandates refunds to taxpayers for any property taxes over-collected when governing bodies fail to follow required procedures for exceeding the revenue neutral rate

Exempts taxing subdivisions receiving $5,000 or less in annual property tax revenue from these requirements