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

HJR 1006 proposes a constitutional amendment to freeze property tax bills during periods of high inflation. If Oklahoma's consumer price index (CPI) rises above 2%, the taxable value used to calculate ad valorem (property) taxes would remain locked at the previous year's level for all property owners. This means property tax bills would not increase due to rising property values during those inflationary periods. The amendment requires voter approval via a referendum, as indicated by the ballot title language.