State Question 847
Source: results.okelections.gov
What does this measure do?
Supports: Cost of Living Reduction
Oklahoma would lower the yearly cap on how much a property's taxable value can rise, from 5% to 4% for most real estate and from 3% to 1.75% for homes and farmland, starting in 2027. Homeowners' property taxes would grow more slowly, and seniors would get income-based limits from 0% to 1.75%.
Read the official ballot measure (PDF)
Proposed by: Oklahoma Legislature (Senate Joint Resolution 39, Senate Pro Tem Lonnie Paxton and House Speaker Kyle Hilbert)
Hilbert is a Bristow Republican who leads the House. He says slower growth in taxable home values gives property tax stability, with the biggest help for lower-income seniors.
Source: news9.com
A YES vote means
The lower limits on how fast taxable property values can grow, and new income-based limits for seniors, start in 2027.
A NO vote means
Current limits stay: 5% a year for most property, 3% for homes and farmland, and the freeze for seniors.
No financial records found for this ballot measure.
Source: ballotpedia.org