Oklahoma legislation · 2026 Regular Session
Oklahoma SJR39: Constitutional amendment; ad valorem; reducing limitation on growth of fair cash value; modifying limitation on growth of fair cash value for homesteads of persons over sixty-five years of age.
Status: Passed both chambers, April 28, 2026
What the bill says
A Joint Resolution directing the Secretary of State to refer to the people for their approval or rejection proposed amendments to Section 8B and Section 8C of Article X of the Oklahoma Constitution, which relate to the limit on percentage of fair cash value of real property and limit on the fair cash value of homesteads for certain persons; reducing the limit for certain tax years; requiring a limit on the increase of fair cash value for certain persons over age sixty-five; providing household income schedule; providing ballot title; and directing filing. SUBJECT: Real property valuation.
From the enrolled text, April 28, 2026:
A Joint Resolution directing the Secretary of State to refer to the people for their approval or rejection proposed amendments to Section 8B and Section 8C of Article X of the Oklahoma Constitution, which relate to the limit on percentage of fair cash value of real property and limit on the fair cash value of homesteads for certain persons; reducing the limit for certain tax years; requiring a limit on the increase of fair cash value for certain persons over age sixty-five; providing household income schedule; providing ballot title; and directing filing. SUBJECT: Real property valuation BE IT RESOLVED BY THE SENATE AND THE HOUSE OF REPRESENTATIVES OF THE 2ND SESSION OF THE 60TH OKLAHOMA LEGISLATURE: SECTION 1. The Secretary of State shall refer to the people for their approval or rejection, as and in the manner provided by law, the following proposed amendments to Section 8B and Section 8C of Article X of the Oklahoma Constitution to read as follows: Section 8B. Despite any provision to the contrary, on and after January 1, 2013, the fair cash value of any parcel of locally assessed real property shall not increase by more than five percent (5%) in any taxable year for tax years 2013 through 2026 and four percent (4%) for tax year 2027 and subsequent tax years; provided, if …