Oklahoma HJR1044 proposes to amend the state constitution to limit the annual growth of fair cash value for locally assessed real property to 5%.
Oklahoma HJR1044 proposes a constitutional amendment to Section 8B of Article X of the Oklahoma Constitution, limiting the annual growth of fair cash value for locally assessed real property to 5% starting from January 1, 2027. This limit applies to all locally assessed real property, except for parcels that qualify for a homestead exemption or are classified as agricultural land. The amendment also mandates the Secretary of State to refer the proposed change to the people for approval or rejection.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.