H.J.Res.1063

Oklahoma HJR1063 proposes a constitutional amendment to exempt certain homesteads from ad valorem taxes if the owner is 45 or older, with exceptions.

Oklahoma HJR1063 proposes a constitutional amendment to exempt certain homesteads from ad valorem taxes if the owner is 45 or older as of January 1. This exemption applies if any owner of the homestead meets the age requirement, even if multiple people hold title. However, the exemption does not apply if the homestead is subject to a mortgage or any other lien recorded as of January 1. The amendment directs the Secretary of State to refer the proposal to the people for approval or rejection.