Resolution 30, introduced by Bergstrom, directs the Secretary of State to present a proposed amendment to Section 8B of Article X of the Oklahoma Constitution to the public for approval or rejection. This amendment aims to modify the limits on the annual increase of the fair cash value of locally assessed real property. Specifically, it proposes to reduce the current limit from five percent to three percent for tax years 2013 through 2026, and from three percent to two percent for tax years 2027 and beyond, for properties that qualify for a homestead exemption or are classified as agricultural land. The resolution also clarifies that these limits do not apply when property ownership changes or when improvements are made.
The resolution includes a ballot title that summarizes the proposed changes, stating that the measure seeks to amend the existing limits on property value growth. Voters will be asked whether they approve of the proposal, with options to vote "Yes" or "No." Following the passage of this resolution, the President Pro Tempore of the Senate is tasked with filing the resolution and ballot title with the Secretary of State and the Attorney General.