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STATE OF OKLAHOMA
2nd Session of the 59th Legislature (2024)
SENATE JOINT
RESOLUTION 27 By: Dahm
AS INTRODUCED
A Joint Resolution directing the Secretary of State
to refer to the people for their approval or
rejection a proposed amendment t o Section 8C of
Article X of the Oklahoma Constitution; eliminating
income threshold to qualify for limit on fair cash
value of homestead for individuals sixty -five years
of age or older; providing ballot title; and
directing filing.
BE IT RESOLVED BY THE SENATE AND THE HOUSE OF REPRESENTATIVES OF THE
2ND 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
Oklahoma Constitution to read as follows:
Section 8C. A. Despite any provision to the contrary,
beginning January 1, 2005, the fair cash value, as determined by
law, on each homestead of an individual head of household whose
gross household income from all sources for the preced ing calendar
year did not exceed an amount as provided in subsection B of this
section, and which individual head of household is sixty -five (65)
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years of age or older , shall not exceed the fair cash value placed
upon the property during the first year in which the individ ual 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. Subject to the
limitations of this section, the fa ir 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
exceed an amount as provided in subsection B of 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 the 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 the revised valuation of the property so l ong 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 i ndividual 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 p roperty shall be the fair
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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 provision s 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 property was valued pursuant to the provisions of this section.
B. The For calendar years 2005 through 2024, 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 provide
such information to each county assessor each year as soon as such
information becomes available. For calendar year 2025 and
subsequent calendar years, there shall be no income threshold for
the limit on fair cash value provided in subsection A of this
section.
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:
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BALLOT TITLE
Legislative Referendum No. ____ State Question No. ____
THE GIST OF THE PROPOSITION IS AS FOLLOWS:
This measure amends Section 8C of Article 10 of the Oklahoma
Constitution. It eliminates the income threshold required to
qualify for the “senior freeze”. The “senior freeze” limits the
fair cash value of the homesteads of taxpayers sixty -five (65)
years of age or older to the amount it was the year limit
becomes effective.
SHALL THE PROPOSAL BE APPROVED?
FOR THE PROPOSAL — YES _____________
AGAINST THE PROPOSAL — NO _____________
SECTION 3. The President Pro Tempore of the Senate shall,
immediately after the passage of this resolution, prepare and file
one copy thereof, including the Ballot Title set forth in SECTION 2
hereof, with the Secretary of State and one copy with the Attorney
General.
59-2-3379 QD 12/16/2023 1:12:30 AM