Oklahoma voters will decide on a constitutional amendment on Nov. 3, 2026, that would reduce the annual growth limit of the assessed value of property used when calculating property taxes. The Oklahoma State Senate approved Senate Joint Resolution 39 (SJR 39) on April 27, sending the measure to the state ballot.
If approved, the amendment would change the state’s method of calculating the assessed value of a property by:
- reducing the annual growth limit of the calculated fair cash value of property from 5% to 4%;
- reducing the annual growth limit of the calculated fair cash value of property that qualifies for a homestead exemption from 3% to 1.75%; and
- repealing the prohibition on any increase in fair cash value of homestead property for those aged sixty-five or older if their income exceeds the median amount determined by the U.S. Department of Housing and Urban Development.
The cash value of property is used to calculate property taxes. The measure would start affecting the growth of fair cash values of property beginning in tax year 2027.
On April 15, the state House approved SJR 39 in a vote of 80-14. Seventy-seven Republicans and three Democrats voted yes, and 14 Democrats voted no. Three Republicans and two Democrats did not vote. On April 27, the state Senate approved SJR 39 in a vote of 40-8, placing the measure on the ballot. Forty Republicans voted yes, and eight Democrats voted no.
The original version of the measure included language that would place the constitutional amendment on the Aug. 25 primary runoff ballot. However, placing a constitutional amendment on a special election ballot requires a two-thirds majority vote from both chambers of the state legislature.
The special election provision was approved by the state House in a vote of 80-14. Seventy-seven Republicans and three Democrats voted yes, and 14 Democrats voted no. It was defeated by the state Senate in a vote of 26-20. Twenty-six Republicans voted yes, and 12 Republicans and 8 Democrats voted no. Two Republicans were absent or did not vote.
State Rep. Kyle Hilbert (R-29) authored the constitutional amendment; he said the measure would benefit Oklahomans by giving them the lowest fixed rate cap on personal property values in the country. He stated, “Oklahomans deserve real protection against the rapid rise in the value of their homes for tax purposes. At a time when families are already struggling to keep up with the cost of inflation, property taxes shouldn’t rise at the same pace as everything else.”
The Oklahoma Policy Institute has publicly opposed the constitutional amendment, stating, “[The amendment] severely restricts future revenue growth from property taxes. This means less revenue for local services across the board, permanently. This will be the largest cut to public education and career techs in recent history. SJR 39 doesn't help, it hurts Oklahoma communities.”
Oklahoma voters will decide four other state questions in 2026. The first, State Question 832 on June 16, would increase the minimum wage to $15 by 2029.
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