Resolution would freeze property taxes for qualified seniors

OKLAHOMA CITY — An Oklahoma City Republican has filed a Joint Resolution that he said would stabilize property taxes for those ages 65 and older who meet certain criteria.

Rep. Robert Manger said his House Joint Resolution 1001 will provide financial relief to Oklahoma senior homeowners, ensuring they can remain in their homes without the burden of rising property taxes.

“This measure is about protecting our seniors and eliminating the worry about property taxes skyrocketing as they retire,” Manger said. “By freezing taxable property values for qualifying seniors, we are helping them maintain stability and control over their financial future.”

If passed by the State Legislature, the resolution would give Oklahoma voters the opportunity to decide whether to incorporate the provisions of HJR1001 into the Oklahoma Constitution.

Under the resolution, homeowners would need to meet specific eligibility requirements, including being 65 years or older, occupying their home for at least 10 years and ensuring the property’s fair cash value does not exceed $500,000. Temporary absences from the home, provided they do not exceed 365 days within a 10-year period, would not disqualify eligibility.

HJR1001 states the fair cash value of a qualifying senior’s homestead would be frozen at the value it held when the senior turned 65. This freeze applies even if property values in the area increase. The measure also would eliminate income-based eligibility, ensuring all seniors who meet the age and occupancy criteria can benefit, marking a significant departure from the existing rules, Manger said.

Additionally, any new improvements to a senior’s home would be added to the taxable value and once adjusted, the fair cash value total would remain for as long as the senior continues to own and occupy the property.