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

This proposed constitutional amendment would limit property tax increases for Oklahoma homesteads owned by qualifying residents. To qualify, homeowners must have owned and occupied their home for at least 10 years and have household income below HUD's annual low-income threshold for their county. If eligible, the property's taxable value would be frozen at its 10th-year assessment level, with new improvements assessed separately but still subject to the freeze. If income exceeds the threshold or the homeowner moves, standard tax rules would apply.