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28	28	STATE OF OKLAHOMA
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30	30	1st Session of the 59th Legislature (2023)
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32	32	HOUSE JOINT
33	33	RESOLUTION 1025 By: Wolfley
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38	38	AS INTRODUCED
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40	40	A Joint Resolution directing the Secretary of State
41	41	to refer to the people for their approval or
42	42	rejection a proposed amendme nt to Section 8C of
43	43	Article X of the Constitution of the State of
44	44	Oklahoma; modifying provisions related to maximum
45	45	income amount for purposes of fair cash value
46	46	determinations for certain homestead properties;
47	47	providing ballot title; and directing filing.
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56	56	BE IT RESOLVED BY THE HOUSE OF REPRESENTATIVES AND THE SENATE OF THE
57	57	1ST SESSION OF THE 59TH OKLAHOMA LEGISLATURE:
58	58	SECTION 1. The Secretary of State shall refer to the people for
59	59	their approval or rejection, as and in the m anner provided by law,
60	60	the following propos ed amendment to Section 8C of Article X of the
61	61	Constitution of the State of Oklahoma to read as follows:
62	62	Section 8C. A. Despite any provision to the contrary,
63	63	beginning January 1, 2005, the fair cash val ue, as determined by
64	64	law, on each homestead of an i ndividual head of household whose
65	65	gross household income from all sources for the preceding calendar
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92	92	year did not exceed an amount as provided in subsection B of this
93	93	section, and which individual head of household is sixty-five (65)
94	94	years of age or older, shall not exceed the fair cash value placed
95	95	upon the property du ring the first year in which the individual head
96	96	of household was sixty -five (65) years of age or older and had gross
97	97	household income from all sources which did not exceed an amount as
98	98	provided in subsection B of this section. Subject to the
99	99	limitations of this section, the fair cash value shall not exceed
100	100	such amount as long as the individual head of household who is
101	101	sixty-five (65) years of age or older owns and occupies the property
102	102	and as long as the gross household income from all sources does not
103	103	exceed an amount as provided in subsection B of this section. If
104	104	any improvements are made to the property, the fair cash value of
105	105	the improvements shall be assessed in accordance with law by the
106	106	county assessor and added to the assessed value of the proper ty.
107	107	Once the fair cash value of the improvements has been added to the
108	108	fair cash value of the property, the total fair cash value shall not
109	109	exceed the revised valuation of the property so lo ng as the
110	110	individual head of household who is sixty -five (65) years of age or
111	111	older owns and occupies the property and so long as the gross
112	112	household income from all sources does not exceed an amount as
113	113	provided in subsection B of this section. For any in dividual head
114	114	of household who is sixty -five (65) years of age or older prior to
115	115	January 1, 1997, and has gross household income from all sources of
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142	142	Twenty-five Thousand Dollars ($25,000.00) or less in cal endar year
143	143	1996, the fair cash value of the real pr operty shall be the fair
144	144	cash value placed upon the property on J anuary 1, 1997. If the
145	145	individual head of household ceases to own and occupy the property
146	146	or if the gross household income from all sources exceeds an amount
147	147	as provided in subsection B of t his section, the fair cash value of
148	148	the property shall be determi ned as if the provisions of Section 8
149	149	of Article X of the Constitution of the State of Oklahoma or any
150	150	other provisions relating to a limita tion on the fair cash value of
151	151	locally assessed rea l property had been in effect during the time
152	152	the property was valued pursuant to the provisions of this section.
153	153	B. The income threshold for the gross household income from all
154	154	sources for an individual head of household under this section shall
155	155	not exceed double the amount determined by the United States
156	156	Department of Housing and Urban Development to be the estimated
157	157	median income for the preceding year for the county or metropolitan
158	158	statistical area whi ch includes such county. The Oklahoma Tax
159	159	Commission shall provide such information to each county assessor
160	160	each year as soon as such information becomes available.
161	161	SECTION 2. The Ballot Title for the proposed Constitutional
162	162	amendment as set forth in SECTION 1 of this resolution shall be in
163	163	the following form:
164	164	BALLOT TITLE
165	165	Legislative Referendum No. ____ State Question No. ____
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192	192	THE GIST OF THE PROPOSITION IS AS FOLLOWS:
193	193	This measure amends the Oklahoma Constitution. It amends Section
194	194	8C of Article 10. Persons age 65 or older can qualify f or a
195	195	property tax benefit. The benefit means that the fair cash
196	196	value of the homestead property for the owner cannot increase
197	197	after the person reaches age 65 and is otherwise qualified.
198	198	There is a limit on the income a person can receive and still
199	199	have this property tax benefit. The income limit is determined
200	200	in each county by reference to median income guidelines
201	201	published by the United States Department of Housing and Urban
202	202	Development. This measure would double the amount of income a
203	203	person can receive and still be able to qualify for the property
204	204	tax benefit.
205	205	SHALL THE PROPOSAL BE APPROVED?
206	206	FOR THE PROPOSAL — YES _____________
207	207	AGAINST THE PROPOSAL — NO _____________
208	208	SECTION 3. The Chief Clerk of the House of Representatives,
209	209	immediately after the passage of this resolution, shall prepare and
210	210	file one copy thereof, including the Ballot Title set forth in
211	211	SECTION 2 hereof, with the Secretary of State and one copy w ith the
212	212	Attorney General.
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214	214	59-1-6547 MAH 12/29/22

Oklahoma 2023 Regular Session

Oklahoma House Bill HJR1025 Compare Versions