Proposed amendment to the Oklahoma Constitution to limit fair cash value increases for senior homeowners.
This resolution proposes an amendment to Section 8C of Article 10 of the Oklahoma Constitution, aiming to limit increases in the fair cash value of homesteads for individual heads of household aged sixty-five or older. The amendment eliminates the income threshold requirement, requiring only that the individual head of household meets the age requirement and has occupied the homestead for ten years. The fair cash value of the homestead cannot exceed $500,000.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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