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

This constitutional amendment (SJR 3) proposes to provide full property tax exemption on homesteads for Oklahomans aged 65 or older, or those receiving Social Security retirement benefits, starting January 1, 2026. It replaces the current system - which limits exemptions based on household income thresholds (determined by HUD median income data) for seniors with lower incomes - with a full exemption regardless of income. The change requires voter approval as a constitutional amendment and would apply to both the primary residence and taxable personal property on the homestead.