Rep. Max Wolfley, R-Oklahoma City, won House approval for a resolution to help more seniors obtain a freeze on the assessed taxable value of their homes.

House Joint Resolution 1025 would introduce a legislative referendum allowing voters to decide whether to double the income threshold for the freeze on the assessed value of a senior's residential property.

Under the current law, only individuals 65 years or older and with a gross household income lower than the annual median income of the county where the property is located are eligible for the property tax freeze.

"Seniors are particularly vulnerable to the effects of inflation," Wolfley said. "We must take action to ensure they can continue to live in their homes without any undue financial burden. One way to do that is to freeze the taxable value of their properties, thereby reducing the strain of property taxes. This fosters financial security and stability for our seniors and shows our commitment to their well-being."

Currently, the maximum household income at which seniors can claim a taxable value freeze ranges from $48,600 to $85,600, depending on which county they reside in. If voters pass this referendum, the income threshold would range from $97,200 to $171,200.

HJR1025 passed the House 92 -1 and is now available for consideration in the Senate.