S.J.Res.16

Oklahoma SJR16 proposes a constitutional amendment to modify the fair cash value assessment for real property improvements and limit increases for.

Oklahoma SJR16 proposes a constitutional amendment to modify the fair cash value assessment for real property improvements and limit increases for certain seniors. The amendment modifies the annual limit on the increase of fair cash value for real property to three percent (3%) in any taxable year for tax years 2013 through 2024, and five percent (5%) for tax year 2025 and subsequent years. It also modifies the procedure for adding the fair cash value of any improvements made to real property, including them in the annual limitation on the increase in fair cash value.