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HJR 1064

Oklahoma Constitution; ad valorem; fair cash value of homestead; ballot title; filing.

2026 Regular Session Introduced by Gabe Woolley

Oklahoma constitutional amendment altering homestead fair cash value calculations for property tax assessment, pending voter approval through ballot measure.

Second Reading referred to Rules
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WeVote Research Nonpartisan
Bill Summary · HJR 1064

Legislative bill overview

HJR 1064 is a constitutional amendment proposal that would modify how Oklahoma calculates the fair cash value of homesteads for ad valorem (property) tax purposes. The bill establishes procedures for ballot titling and filing requirements for this constitutional change. This is a joint resolution meant to be submitted to Oklahoma voters for approval.

Why is this important

Property tax assessments directly affect homeowner tax bills and local government revenues that fund schools, emergency services, and infrastructure. Changes to how "fair cash value" is determined can either increase or decrease the tax burden on homeowners, making this a financially significant issue for both residents and municipalities that depend on property tax revenue.

Potential points of contention

  • Impact on tax burden: Depending on how the new valuation method differs from current law, homeowners could face higher or lower property taxes, creating winners and losers
  • Local government funding: Changes to homestead valuation could reduce revenues for schools and local services that rely on property tax income
  • Implementation complexity: Transitioning to a new valuation method may create administrative challenges and temporary uncertainty in property assessments
  • Definition clarity: The specific methodology for determining "fair cash value" under the new system is not detailed in this summary, leaving questions about actual impacts

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

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