Req. No. 11761 Page 1 1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
STATE OF OKLAHOMA
1st Session of the 60th Legislature (2025)
HOUSE JOINT
RESOLUTION 1004 By: Stewart
AS INTRODUCED
A Joint Resolution directing the Secretary of State
to refer to the people for their approval or
rejection a proposed amendme nt to the Constitution of
the State of Oklahoma by adding a new Section 8 G to
Article X; limiting the fair cash value on certain
property for individuals who have owned and occupied
the property for at least ten years and meet certain
income requirements; providing for fair cash value
assessment if improvements are made or owner ceases
to own and occupy property; providing income
threshold for gross household income; providing
ballot title; and directing filing.
BE IT RESOLVED BY THE HOUSE OF REPRESENTATIVES AND THE SENATE OF THE
1ST SESSION OF THE 60TH 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 the Constitution of the State of
Oklahoma by adding a new Section 8 G to Article X thereof, to read as
follows:
Req. No. 11761 Page 2 1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
A. Despite any provision to the contrary, beginning January 1,
2026, 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 preceding calendar year did not exceed an amount
as provided in subsection B of this section, and which individual
head of household has owned and occupied the property for ten (10)
years or longer, shall not exceed the fair cash value placed upon
the property during the tenth year in which the individual head of
household has owned and occupied the property and had gross
household income from all sources which did not e xceed an amount as
provided in subsection B of this section. Subject to the
limitations of this section, the fair cash value shall not exceed
such amount as long as the individual head of household owns and
occupies the property and as long as the gross h ousehold 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 a nd 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 long
as the individual head of household 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. If
Req. No. 11761 Page 3 1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
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 property 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 ho usehold under this section shall
not exceed the amount determined by the United States Department of
Housing and Urban Development to be the estimated low 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.
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:
Req. No. 11761 Page 4 1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
This measure amends the Oklahoma Constitution. It would add a
new Section 8G to Article 10 of the Oklahoma Constitution. This
measure prevents an increase in the value of homestead property
for ad valorem taxation. The taxpayer must have owned and
occupied the property for at least ten (10) years and your gross
household income cannot exceed the amount determined by the
United States Department of Housing and Urban Development to be
the estimated low income for the preceding year for the county
or metropolitan statistical area which includes such county.
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 Ba llot Title set forth in
SECTION 2 hereof, with the Secretary of State and one copy with the
Attorney General.
60-1-11761 AO 01/11/25