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SJR 39

Constitutional amendment; ad valorem; reducing limitation of growth of fair cash value; ordering special election on certain date; ballot title; directing filing.

2026 Regular Session Introduced by Kyle Hilbert and 1 co-sponsor

Oklahoma constitutional amendment reducing annual fair cash value growth caps for property tax assessments, lowering tax increases for owners but potentially reducing local government revenues.

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Bill Summary · SJR 39

Legislative bill overview

SJR 39 proposes a constitutional amendment to Oklahoma's property tax system that would reduce the annual cap on how much a property's assessed value (fair cash value) can increase for ad valorem tax purposes. Currently, Oklahoma limits this annual growth, and this amendment would lower that growth limitation threshold, potentially affecting how property taxes are calculated statewide.

Why is this important

Property tax growth caps directly impact both homeowners and local government revenues. Lowering the cap could mean property owners see slower increases in their tax bills, but it may also reduce funding available to schools, counties, and municipalities that rely on ad valorem tax revenue. This affects budget planning for essential public services across the state.

Potential points of contention

  • Revenue impact on local services: School districts and local governments may face reduced budgets if property tax growth is capped more restrictively, potentially affecting education funding and infrastructure projects
  • Property owner equity: Lowering growth caps benefits current homeowners but may create disparities between properties with similar market values assessed at different times
  • Constitutional amendment threshold: As a constitutional amendment, this requires voter approval and represents a significant, difficult-to-reverse change to Oklahoma's tax structure

Compiled from official sources — confirm details with the bill’s official record.

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