1| STATE OF OKLAHOMA | | | 2| 1st Session of the 59th Legislature (2023) | | | 3|HOUSE JOINT | |RESOLUTION 1025 By: Wolfley | 4| | | | 5| | | | 6| AS INTRODUCED | | | 7| A Joint Resolution directing the Secretary of State | | to refer to the people for their approval or | 8| rejection a proposed amendment to Section 8C of | | Article X of the Constitution of the State of | 9| Oklahoma; modifying provisions related to maximum | | income amount for purposes of fair cash value | 10| determinations for certain homestead properties; | | providing ballot title; and directing filing. | 11| | | | 12| | | | 13| | | | 14| | | | 15|BE IT RESOLVED BY THE HOUSE OF REPRESENTATIVES AND THE SENATE OF THE | | | 16|1ST SESSION OF THE 59TH OKLAHOMA LEGISLATURE: | | | 17| SECTION 1. The Secretary of State shall refer to the people for | | | 18|their approval or rejection, as and in the manner provided by law, | | | 19|the following proposed amendment to Section 8C of Article X of the | | | 20|Constitution of the State of Oklahoma to read as follows: | | | 21| Section 8C. A. Despite any provision to the contrary, | | | 22|beginning January 1, 2005, the fair cash value, as determined by | | | 23|law, on each homestead of an individual head of household whose | | | 24|gross household income from all sources for the preceding calendar | | | Req. No. 6547 Page 1 ___________________________________________________________________________
1|year did not exceed an amount as provided in subsection B of this | | | 2|section, and which individual head of household is sixty-five (65) | | | 3|years of age or older, shall not exceed the fair cash value placed | | | 4|upon the property during the first year in which the individual head | | | 5|of household was sixty-five (65) years of age or older and had gross | | | 6|household income from all sources which did not exceed an amount as | | | 7|provided in subsection B of this section. Subject to the | | | 8|limitations of this section, the fair cash value shall not exceed | | | 9|such amount as long as the individual head of household who is | | | 10|sixty-five (65) years of age or older owns and occupies the property | | | 11|and as long as the gross household income from all sources does not | | | 12|exceed an amount as provided in subsection B of this section. If | | | 13|any improvements are made to the property, the fair cash value of | | | 14|the improvements shall be assessed in accordance with law by the | | | 15|county assessor and added to the assessed value of the property. | | | 16|Once the fair cash value of the improvements has been added to the | | | 17|fair cash value of the property, the total fair cash value shall not | | | 18|exceed the revised valuation of the property so long as the | | | 19|individual head of household who is sixty-five (65) years of age or | | | 20|older owns and occupies the property and so long as the gross | | | 21|household income from all sources does not exceed an amount as | | | 22|provided in subsection B of this section. For any individual head | | | 23|of household who is sixty-five (65) years of age or older prior to | | | 24|January 1, 1997, and has gross household income from all sources of | | | Req. No. 6547 Page 2 ___________________________________________________________________________
1|Twenty-five Thousand Dollars ($25,000.00) or less in calendar year | | | 2|1996, the fair cash value of the real property shall be the fair | | | 3|cash value placed upon the property on January 1, 1997. If the | | | 4|individual head of household ceases to own and occupy the property | | | 5|or if the gross household income from all sources exceeds an amount | | | 6|as provided in subsection B of this section, the fair cash value of | | | 7|the property shall be determined as if the provisions of Section 8 | | | 8|of Article X of the Constitution of the State of Oklahoma or any | | | 9|other provisions relating to a limitation on the fair cash value of | | | 10|locally assessed real property had been in effect during the time | | | 11|the property was valued pursuant to the provisions of this section. | | | 12| B. The income threshold for the gross household income from all | | | 13|sources for an individual head of household under this section shall | | | 14|not exceed double the amount determined by the United States | | | 15|Department of Housing and Urban Development to be the estimated | | | 16|median income for the preceding year for the county or metropolitan | | | 17|statistical area which includes such county. The Oklahoma Tax | | | 18|Commission shall provide such information to each county assessor | | | 19|each year as soon as such information becomes available. | | | 20| SECTION 2. The Ballot Title for the proposed Constitutional | | | 21|amendment as set forth in SECTION 1 of this resolution shall be in | | | 22|the following form: | | | 23| BALLOT TITLE | | | 24|Legislative Referendum No. ____ State Question No. ____ | | | Req. No. 6547 Page 3 ___________________________________________________________________________
1|THE GIST OF THE PROPOSITION IS AS FOLLOWS: | | | 2| This measure amends the Oklahoma Constitution. It amends Section | | | 3| 8C of Article 10. Persons age 65 or older can qualify for a | | | 4| property tax benefit. The benefit means that the fair cash | | | 5| value of the homestead property for the owner cannot increase | | | 6| after the person reaches age 65 and is otherwise qualified. | | | 7| There is a limit on the income a person can receive and still | | | 8| have this property tax benefit. The income limit is determined | | | 9| in each county by reference to median income guidelines | | | 10| published by the United States Department of Housing and Urban | | | 11| Development. This measure would double the amount of income a | | | 12| person can receive and still be able to qualify for the property | | | 13| tax benefit. | | | 14| SHALL THE PROPOSAL BE APPROVED? | | | 15| FOR THE PROPOSAL YES _____________ | | | 16| AGAINST THE PROPOSAL NO _____________ | | | 17| SECTION 3. The Chief Clerk of the House of Representatives, | | | 18|immediately after the passage of this resolution, shall prepare and | | | 19|file one copy thereof, including the Ballot Title set forth in | | | 20|SECTION 2 hereof, with the Secretary of State and one copy with the | | | 21|Attorney General. | | | 22| | | | 23| 59-1-6547 MAH 12/29/22 | | | 24| | | | Req. No. 6547 Page 4