Constitutional Amendment to Cap Annual Property Tax Growth
Plain-English Summary
Oklahoma voters will decide on a constitutional amendment to lower the annual cap on how much a property's taxable value can increase. The proposal would reduce the cap for most properties from 5% to 4% and for homesteads from 3% to 1.75%, starting in 2027. It also modifies senior property tax limits by linking certain benefits to income levels.
What each outcome does
If yes passes, the annual caps on property tax value increases will be lowered to 4% for most properties and 1.75% for homesteads, taking effect in the 2027 tax year. Additionally, some senior property tax benefits will be tied to income levels.
If no passes, the current annual property tax value increase caps of 5% for most properties and 3% for homesteads will remain in place. The existing senior property tax limits will also continue without changes related to income levels.
Who is funding each side
BallotPulse is non-partisan. We summarize each outcome in plain English and disclose the money on both sides. We do not tell you how to vote. Always read the official ballot text and decide for yourself.