S.J.Res.39

Oklahoma SJR39 proposes a constitutional amendment to limit the growth of fair cash value for locally assessed real property.

Oklahoma SJR39 proposes a constitutional amendment to limit the growth of fair cash value for locally assessed real property. The amendment would reduce the limit to five percent for tax years 2013 through 2026 and three percent for tax years 2027 and subsequent years. The amendment would not apply to personal property or property assessed by the State Board of Equalization. The Legislature would need to enact laws to implement the amendment. The Secretary of State would refer the amendment to the people for approval or rejection in a special election.