The property taxes for people over 65 would be frozen under a measure that passed the Senate Finance committee yesterday. The measure has to be approved by voters and would apply people of all incomes.
Senate Joint Resolution 57 would freeze the property valuations of people who are 65 or older at five percent. Currently property valuations freezes are allowed to people who make as much as $58,500 in Oklahoma City and $57,600 in Tulsa.
The legislation, by Sen. Jim Reynolds, R-Oklahoma City, proposed the measure last legislative session, but the bill did not get a hearing in the House.
The County Officers and Deputies Association is against the bill, saying that many counties have a lot of people over 65 who own property. Without the growth, funding for essential county services would suffer, said Dave Herbert, who represented the association at the committee meeting on Tuesday.