Oklahoma voters reject SQ 847 property tax cap

Oklahoma voters rejected State Question 847 on Tuesday, Nov. 3, keeping the state's property tax assessment caps unchanged.

The measure failed with 573,309 "no" votes to 481,942 in favor, according to unofficial results from the Associated Press reported by the OU Daily.

Those figures reflect 97% of votes counted as of 11:06 p.m. on Nov. 3. The Oklahoma State Election Board is expected to certify results on Tuesday, Nov. 10.

The defeat means Norman property owners, schools and city services will continue operating under existing assessment caps. The Oklahoma Tax Commission estimated local governments and school districts would receive $45.78 million less in property tax revenue in the first year than under existing law, the Journal Record reported. The Oklahoma State School Boards Association projected the statewide loss could reach nearly $500 million over 10 years, according to the association's FAQ on the measure.

What SQ 847 would have done

The Legislature placed SQ 847 on the ballot through Senate Joint Resolution 39. It would have lowered the annual cap on assessed-value increases for homestead and agricultural property from 3% to 1.75%. The cap for commercial and other property would have dropped from 5% to 4%. It also proposed tiered assessment caps for seniors age 65 and older who earn too much to qualify for the existing property tax freeze.

Property taxes stay local in Oklahoma. They do not go to the state. Schools, counties, career technology centers and some cities depend on them as a primary revenue source.

House Speaker Kyle Hilbert, R-Bristow, said at a GOP election watch party in Oklahoma City on the night of Nov. 3 that concerns about property tax costs were "very loud at the state Capitol" this year, according to the Journal Record.

Norman officials had raised concerns

Before the vote, Norman Mayor Stephen Tyler Holman said he believed SQ 847 could have raised tax bills rather than lowered them, according to OU Daily coverage published in October. Holman said the city has voter-approved bond programs for street and bridge maintenance. If property valuations grew more slowly than anticipated when those bonds were issued, local millage rates might have needed to increase to cover the debt.

Norman Public Schools Superintendent Nick Migliorino wrote in an email statement to the OU Daily in October that the district was watching two areas closely: funding for day-to-day operations and the district's ability to keep investing in school facilities. He wrote that SQ 847 "could also have financial implications for public schools, including Norman Public Schools."

The Cleveland County commissioners wrote in an October email statement to the OU Daily that they supported meaningful tax relief but believed limiting property taxes did not have to mean limiting resources.

Second property tax question to fail in 2026

SQ 847 was the second property-tax-related state question voters rejected this year. In the August runoff, voters turned down State Question 844, which would have changed how reimbursements for the state's five-year manufacturing exemption on property taxes are handled, NonDoc reported.

The Oklahoma State Election Board has not yet certified the final results.