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53	53	STATE OF OKLAHOMA
54	54
55	55	2nd Session of the 59th Legislature (2024)
56	56
57	57	SENATE JOINT
58	58	RESOLUTION 27 By: Dahm
59	59
60	60
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63	63	AS INTRODUCED
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65	65	A Joint Resolution directing the Secretary of State
66	66	to refer to the people for their approval or
67	67	rejection a proposed amendment t o Section 8C of
68	68	Article X of the Oklahoma Constitution; eliminating
69	69	income threshold to qualify for limit on fair cash
70	70	value of homestead for individuals sixty -five years
71	71	of age or older; providing ballot title; and
72	72	directing filing.
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77	77	BE IT RESOLVED BY THE SENATE AND THE HOUSE OF REPRESENTATIVES OF THE
78	78	2ND SESSION OF THE 59TH OKLAHOMA LEGISLATURE:
79	79	SECTION 1. The Secretary of State shall refer to the people for
80	80	their approval or rejection, as and in the manner provided by law,
81	81	the following proposed amendment to Section 8C of Article X of the
82	82	Oklahoma Constitution to read as follows:
83	83	Section 8C. A. Despite any provision to the contrary,
84	84	beginning January 1, 2005, the fair cash value, as determined by
85	85	law, on each homestead of an individual head of household whose
86	86	gross household income from all sources for the preced ing calendar
87	87	year did not exceed an amount as provided in subsection B of this
88	88	section, and which individual head of household is sixty -five (65)
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140	140	years of age or older , shall not exceed the fair cash value placed
141	141	upon the property during the first year in which the individ ual head
142	142	of household was sixty -five (65) years of age or older and had gross
143	143	household income from all sources which did not exceed an amount as
144	144	provided in subsection B of this section. Subject to the
145	145	limitations of this section, the fa ir cash value shall not exceed
146	146	such amount as long as the individual head of household who is
147	147	sixty-five (65) years of age or older owns and occupies the property
148	148	and as long as the gross household income from all sources does not
149	149	exceed an amount as provided in subsection B of this section. If
150	150	any improvements are made to the property, the fair cash value of
151	151	the improvements shall be assessed in accordance with law by the
152	152	county assessor and added to the assessed value of the property.
153	153	Once the fair cash value of the improvements has been added to the
154	154	fair cash value of the property, the total fair cash value shall not
155	155	exceed the revised valuation of the property so l ong as the
156	156	individual head of household who is sixty -five (65) years of age or
157	157	older owns and occupies the property and so long as the gross
158	158	household income from all sources does not exceed an amount as
159	159	provided in subsection B of this section. For any i ndividual head
160	160	of household who is sixty -five (65) years of age or older prior to
161	161	January 1, 1997, and has gross household income from all sources of
162	162	Twenty-five Thousand Dollars ($25,000.00) or less in calendar year
163	163	1996, the fair cash value of the real p roperty shall be the fair
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215	215	cash value placed upon the property on January 1, 1997. If the
216	216	individual head of household ceases to own and occupy the property
217	217	or if the gross household income from all sources exceeds an amount
218	218	as provided in subsection B of this section, the fair cash value of
219	219	the property shall be determined as if the provision s of Section 8
220	220	of Article X of the Constitution of the State of Oklahoma or any
221	221	other provisions relating to a limitation on the fair cash value of
222	222	locally assessed real property had been in effect during the time
223	223	the property was valued pursuant to the provisions of this section.
224	224	B. The For calendar years 2005 through 2024, the income
225	225	threshold for the gross household income from all sources for an
226	226	individual head of household under this section shall not exceed the
227	227	amount determined by the United States Department of Housing and
228	228	Urban Development to be the estimated median income for the
229	229	preceding year for the county or metropolitan statistical area which
230	230	includes such county. The Oklahoma Tax Commission shall provide
231	231	such information to each county assessor each year as soon as such
232	232	information becomes available. For calendar year 2025 and
233	233	subsequent calendar years, there shall be no income threshold for
234	234	the limit on fair cash value provided in subsection A of this
235	235	section.
236	236	SECTION 2. The Ballot Title for the proposed Constitutional
237	237	amendment as set forth in SECTION 1 of this resolution shall be in
238	238	the following form:
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290	290	BALLOT TITLE
291	291	Legislative Referendum No. ____ State Question No. ____
292	292	THE GIST OF THE PROPOSITION IS AS FOLLOWS:
293	293	This measure amends Section 8C of Article 10 of the Oklahoma
294	294	Constitution. It eliminates the income threshold required to
295	295	qualify for the “senior freeze”. The “senior freeze” limits the
296	296	fair cash value of the homesteads of taxpayers sixty -five (65)
297	297	years of age or older to the amount it was the year limit
298	298	becomes effective.
299	299	SHALL THE PROPOSAL BE APPROVED?
300	300	FOR THE PROPOSAL — YES _____________
301	301	AGAINST THE PROPOSAL — NO _____________
302	302	SECTION 3. The President Pro Tempore of the Senate shall,
303	303	immediately after the passage of this resolution, prepare and file
304	304	one copy thereof, including the Ballot Title set forth in SECTION 2
305	305	hereof, with the Secretary of State and one copy with the Attorney
306	306	General.
307	307
308	308	59-2-3379 QD 12/16/2023 1:12:30 AM

Oklahoma 2024 Regular Session

Oklahoma Senate Bill SJR27 Compare Versions