Oklahoma 2025 Regular Session

Oklahoma House Bill HJR1001 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	Req. No. 10806 Page 1
2	2	STATE OF OKLAHOMA
3	3
4	4	1st Session of the 60th Legislature (2025)
5	5
6	6	HOUSE JOINT
7	7	RESOLUTION 1001 By: Manger
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13	13	AS INTRODUCED
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15	15	A Joint Resolution directing the Secretary of State
16	16	to refer to the people for their approval or
17	17	rejection a proposed amendme nt to Section 8C of
18	18	Article X of the Constitution of the State of
19	19	Oklahoma; eliminating income threshold; providing for
20	20	occupancy requirement; providing exception;
21	21	restricting fair cash value of homestead for purposes
22	22	of eligibility; prescribing definition of fair cash
23	23	value pursuant to Section 8B of Article X of the
24	24	Oklahoma Constitution; prov iding ballot title; and
25	25	directing filing.
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30	30	BE IT RESOLVED BY THE HOUSE OF REPRESENTATIVES AND THE SENATE OF THE
31	31	1ST SESSION OF THE 60TH OKLAHOMA LEGISLATURE :
32	32	SECTION 1. The Secretary of State shall refer to the people for
33	33	their approval or rejection, as and in the manner provided by law,
34	34	the following proposed amendment to Section 8C of Article X of the
35	35	Constitution of the State of Oklahoma t o read as follows:
36	36	Section 8C. A. Despite any provision to the contrary,
37	37	beginning January 1, 2005 2027, the fair cash value, as determined
38	38	by law, on each homestead of an individual head of household whose
39	39	gross household income from all sources for the preceding calendar Req. No. 10806 Page 2
40	40	year did not exceed an amount as provided in subsection B of this
41	41	section, and which individual head of household who is sixty-five
42	42	(65) years of age or older who has occupied the property for a
43	43	period of at least ten (10) years prior t o the first January 1 date
44	44	following the year during which the person attains the age of s ixty-
45	45	five (65) years, shall not exceed the fair cash value placed upon
46	46	the property during the first year in which the individual head of
47	47	household was sixty-five (65) years of age or older and had gross
48	48	household income from all sources which did not exceed an amount as
49	49	provided in subsection B of this section . For purposes of this
50	50	section, absence from the homestead for a period not to exceed three
51	51	hundred sixty-five (365) days during any ten -year period shall not
52	52	disqualify the owner from eligibility. The provisions of this
53	53	section shall only be applicable to a homestead with a fair cash
54	54	value of Five Hundred Thousand Dollars ($500,000.00) or less. For
55	55	purposes of this section, the fair cash value shall be determined in
56	56	the same manner as provided by Section 8B of Article X of the
57	57	Oklahoma Constitution. Subject to the limitations of this section,
58	58	the fair cash value shall not exceed such amount as long as the
59	59	individual head of household who is sixty -five (65) years of age or
60	60	older owns and occupies th e property and as long as the gross
61	61	household income from all sources does not exceed an amount as
62	62	provided in subsection B of this section . If any improvements are
63	63	made to the property, the fair cash value of the improvements shall Req. No. 10806 Page 3
64	64	be assessed in accordance with law by the county assessor and added
65	65	to the assessed value of the property. Once the fair cash value of
66	66	the improvements has been added to the fair cash val ue of the
67	67	property, the total fair cash value shall not exceed the revised
68	68	valuation of the property so long as the individual head of
69	69	household who is sixty -five (65) years of age or older owns and
70	70	occupies the property and so long as the gross household income from
71	71	all sources does not exceed an amount as provided in subsection B of
72	72	this section. For any individual head of household who is sixty -
73	73	five (65) years of age or older prior to January 1, 1997, and has
74	74	gross household income from all sources of T wenty-five Thousand
75	75	Dollars ($25,000.00) or less in calendar year 1996, the fair cash
76	76	value of the real property shall be the fair cash value placed upon
77	77	the property on January 1, 1997. If the individual head of
78	78	household ceases to own and occupy the pro perty or if the gross
79	79	household income from all sources exceeds an amount as provided in
80	80	subsection B of this section , the fair cash value of the property
81	81	shall be determined as if the provisions of Section 8 of Article X
82	82	of the Constitution of the State o f Oklahoma or any other provisions
83	83	relating to a limitation on the fair cash value of loca lly assessed
84	84	real property had been in effect during the time the property was
85	85	valued pursuant to the provisions of this section.
86	86	B. The income threshold for the gro ss household income from all
87	87	sources for an individual head of household under this section shall Req. No. 10806 Page 4
88	88	not exceed the amount determined by the United States Department of
89	89	Housing and Urban Development to be the estimated median income for
90	90	the preceding year for the county or metropolitan statistical area
91	91	which includes such county. The Oklahoma Tax Commission shall
92	92	provide such information to each county assessor each year as soon
93	93	as such information becomes available.
94	94	SECTION 2. The Ballot Title for the proposed Constitutional
95	95	amendment as set forth in SECTION 1 of this resolution shall be in
96	96	the following form:
97	97	BALLOT TITLE
98	98	Legislative Referendum No. ____ State Question No. ____
99	99	THE GIST OF THE PROPOSITION IS AS FOLLOWS:
100	100	This measure amends Se ction 8C of Article 10 of the Oklahoma
101	101	Constitution. Increases in fair cash value of hom esteads are
102	102	limited for individual heads of household age sixty -five (65) or
103	103	older. The increase cannot exceed the fair cash value of the
104	104	property during the first y ear in which the owner was sixty -five
105	105	(65) years of age or older. This limit applies if the
106	106	individual head of household meets both the age requirement and
107	107	an income limit determined by the United States Department of
108	108	Housing and Urban Development. This measure would eliminate the
109	109	income limit requirement. The age limit would not change. Th e
110	110	person would be required to have occupied the homestead for ten
111	111	(10) years. A person could be away from the homestead for a Req. No. 10806 Page 5
112	112	period not to exceed three hundred sixt y-five (365) days in a
113	113	ten-year period and still qualify. The limit on increases in
114	114	fair cash value of homestead property would only apply if the
115	115	fair cash value of the homestead is Five Hundred Thousand
116	116	Dollars ($500,000.00) or less. This value would be determined
117	117	the same way as it is determined for all other purposes in the
118	118	property tax system.
119	119	SHALL THE PROPOSAL BE APPROVED?
120	120	FOR THE PROPOSAL — YES _____________
121	121	AGAINST THE PROPOSAL — NO _____________
122	122	SECTION 3. The Chief Clerk of the House of Representatives,
123	123	immediately after the passage of this resolution, shall prepare and
124	124	file one copy thereof, including the Ballot Title set forth in
125	125	SECTION 2 hereof, with the Secretary of State and one copy with the
126	126	Attorney General.
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128	128	60-1-10806 AO 01/07/25