Oklahoma HJR1064 proposes to amend the state constitution to eliminate the income threshold for the fair cash value of a homestead for individuals.
Oklahoma HJR1064 proposes a constitutional amendment to eliminate the income threshold for the fair cash value of a homestead for individuals aged 65 and older. This amendment would require the head of household to own their homestead free and clear of any mortgage or other indebtedness. The fair cash value of any improvements made to the property would be assessed by the county assessor and added to the assessed value of the property. The total fair cash value would not exceed the revised valuation of the property. The amendment would be put to a vote by the people of Oklahoma.
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