Oklahoma Constitution; ad valorem; value of liability; freeze; consumer price index; ballot title; filing.

HJR 1006 proposes a constitutional amendment to freeze property tax increases during periods of high inflation. If Oklahoma's Consumer Price Index (CPI) rises above 2%, the assessed value used to calculate ad valorem property taxes would remain locked at the previous year's level for the next tax assessment cycle. This directly affects property owners whose tax bills would otherwise increase due to rising property values during inflationary periods. The freeze would take effect in the first assessment year after CPI data becomes available, preventing tax hikes tied to inflation.