OK HJR1061

Proposes a constitutional amendment to Article X, Section 8C to be placed on the ballot for voter approval, effective January 1, 2027

Eliminates the existing income-based property tax valuation freeze for homeowners 65 and older, which currently caps fair cash value at the level from when the owner turned 65 if income remains below HUD median income limits

Replaces the valuation freeze with a complete exemption from all forms of ad valorem (property) taxation on homesteads for all heads of household age 65 or older, regardless of income level

Removes provisions that allowed increases to assessed value when improvements were made to the property

Directs the Secretary of State to refer the amendment to voters and requires the Chief Clerk to file copies with the Secretary of State and Attorney General