Oklahoma State Question 847: Property assessments and senior limits
Oklahoma · Constitutional amendment · Taxes · Statewide decision
Explanation reviewed 2026-10-27. AI-written and checked against linked official evidence; not an election-office summary.
AI-written summary
Would lower those caps to 4% and 1.75% from 2027. For homeowners age 65 or older, it replaces the current eligibility structure with income-based assessment limits: no increase at or below the area median income, then 0.35%, 0.7%, 1.05%, 1.4% or 1.75% as income rises.
What applies now
Annual fair-cash-value growth is generally capped at 5%, or 3% for homesteads and agricultural land. Some qualifying seniors receive an assessment freeze.
If yes / for
Adopt the lower general caps and redesigned senior schedule.
If no / against
Keep existing caps and senior-freeze eligibility.
Costs and funding
The official final ballot title says there would be a fiscal impact on the state, but its exact amount is unknown.
Timing
Tax year 2027 onward for the new assessment caps.
Passage rule
Threshold not independently established here; consult the official text.
Source notes
- The senior tiers use income relative to the HUD county or metropolitan median: up to 100%, over 100–120%, 120–140%, 140–160%, 160–180%, and above 180%. Assessment limits do not guarantee a lower tax bill.