H.J.Res.1061

Oklahoma HJR1061 proposes amending the state constitution to exempt certain homeowners from ad valorem taxation on their homesteads.

Oklahoma HJR1061 proposes to amend Section 8C of Article 10 of the Oklahoma Constitution by eliminating the limitation on the increase of the fair cash value of homesteads for individual heads of household who are sixty-five years of age or older. The amendment would provide exempt treatment from all forms of ad valorem taxation on their homesteads if they meet the age requirement and an income limit determined by the United States Department of Housing and Urban Development. The proposal also removes the limitation on the fair cash value if improvements are made to the property.