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STATE OF OKLAHOMA
1st Session of the 59th Legislature (2023)
HOUSE JOINT
RESOLUTION 1042 By: Hays
AS INTRODUCED
A Joint Resolution directing the Secretary of State
to refer to the people for their approval or
rejection a proposed amendment to Section 8C of
Article X of the Constitution of the State of
Oklahoma; modifying provisions related to qualifying
income limits; providing ballot title; and directing
filing.
BE IT RESOLVED BY THE HOUSE OF REPRESENTATIVES AND THE SENATE OF TH E
1ST SESSION OF THE 59TH OKLAHOMA LEGISLATURE:
SECTION 1. The Secretary of State shall refer to the people for
their approval or rejection, as and in the manner provided by law,
the following proposed amendment to Section 8C of Article X of the
Constitution of the State of Okl ahoma to read as follows:
Section 8C.
Limit on fair cash value on homestead.
A. Despite any provision to the contrary, beginning January 1,
2005 2025, the fair cash value, as determined by law, on each
homestead of an individual head of house hold whose gross household
income from all sources for the preceding calendar year did not
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exceed an amount as provided in this subsection B of this section,
and which individual head of household is sixty -five (65) years of
age or older, shall not exceed the fair cash value placed upon the
property during the first year in which the individual head of
household was sixty-five (65) years of age or older and had gross
household income from all sources which did not exceed an amount as
provided in subsection B of this section Seventy-five Thousand
Dollars ($75,000.00) if the homestead is owned by one person or
which did not exceed On e Hundred Fifty Thousand Dollars
($150,000.00) if the homestead is owned by two or more persons .
Subject to the limitations of this section, the fair cash value
shall not exceed such amount as long as the individual head of
household who is sixty -five (65) years of age or older owns and
occupies the property and as long as the gross household income from
all sources does not ex ceed an amount as provided in this subsection
B of this section. The homestead must be occupied by the owner or
owners for at least twenty four (24) months prior to the first year
the prohibition on increases in the fair cash value of the homestead
is in effect as otherwise provided by this section. If any
improvements are made to the property, the fair cash value of the
improvements shall be assessed in accordance with law by the county
assessor and added to the assessed value of th e property. Once the
fair cash value of the improvements has been added to the fair cash
value of the property, the total fair cash value shall not exceed
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the revised valuation of the property so long as the individual head
of household who is sixty -five (65) years of age or older owns and
occupies the property and so long as the gross household income from
all sources does not exceed an amount as provided in subsection B of
this section. For any individual head of household who is sixty -
five (65) years of age or older prior to January 1, 1997, and has
gross household income from all sources of Twenty -five Thousand
Dollars ($25,000.00) or less in calendar year 1996, the fair cash
value of the real property shall be the fair cash value placed upon
the property on January 1, 1997. If the individual head of
household ceases to own and occupy the property or if the gross
household income from all sources exceeds an amount as provided in
subsection B of this section, the fair cash value of the property
shall be determined as if the provisions of Section 8 of Article X
of the Constitution of the State of Oklahoma or any other provisions
relating to a limitation on the fair cash value of locally assessed
real property had been in effect during the time the propert y was
valued pursuant to the provisions of this section.
B. The income threshold for the gross household income from all
sources for an individual head of household under this section shall
not exceed the amount determined by the United States Department of
Housing and Urban Development to be the estimated median income for
the preceding year for the county or metropolitan statistical area
which includes such county. The Oklahoma Tax Commission shall
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provide such information to each county assessor each y ear as soon
as such information becomes available.
SECTION 2. The Ballot Title for the proposed Constitutional
amendment as set forth in SECTION 1 of this resolution shall be in
the following form:
BALLOT TITLE
Legislative Referendum No. _ ___ State Question No. ____
THE GIST OF THE PROPOSITION IS AS FOLLOWS:
This measure amends the Oklahoma Constitu tion. It amends Section 8C
of Article 10. This section prevents the fair cash value of certain
homestead properties from increasing for property tax purposes. The
fair cash value cannot increase if the owner of the property is
sixty-five (65) years of age or older and the owner's gross
household income does not exceed a certain amount which is
determined each year on a county by cou nty basis. This measure
would change the income lim it. If the homestead is owned by only
one person, the person would qualify if their income was not in
excess of Seventy-five Thousand Dollars ($75,000.00) in the
preceding year. If the homestead i s owned by two or more people,
they would qualify if the total household income was not in excess
of One Hundred Fifty Thousand Dollars ($150,000.00) in the preceding
year. If the owner's or owners' incomes did not exceed those
amounts, then the fair cash value of their hom estead would not
increase for property tax purposes. The homestead would need to be
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occupied for twenty-four (24) months by the owner or owners before
they could qualify for protection against increas es in fair cash
value of homestead property.
SHALL THE PROPOSAL BE APPROVED?
FOR THE PROPOSAL — YES _____________
AGAINST THE PROPOSAL — NO _____________
SECTION 3. The Chief Clerk of the House of Representatives,
immediately after the passage of this resolution, shall prepare and
file one copy thereof, including the Ballot Titl e set forth in
SECTION 2 hereof, with the Secretary of State and one copy with the
Attorney General.
59-1-6638 MAH 01/09/23