Constitutional amendment; modifying limit on fair cash value of homestead to provide exemption for the full amount of fair cash value for seniors.

SJR 3 proposes a constitutional amendment to provide a full property tax exemption for the home and household items of Oklahoma seniors aged 65 or older or those receiving Social Security retirement benefits, effective January 1, 2026. This replaces the current system (in effect until 2025), which only exempts a portion of a home's value (capped at the value when the owner turned 65) for qualifying seniors with income below HUD-defined county thresholds. The amendment would remove the value cap, allowing the full current fair cash value of the home and household items to be exempt from property taxes. The change requires voter approval to become part of Oklahoma's constitution.