Oklahoma voters reject SQ 847, keeping the 3% and 5% property value caps
State Question 847, which would have cut Oklahoma's yearly cap on taxable value growth from 3% to 1.75% for homesteads and ag land and from 5% to 4% for other property, failed on November 3.
Oklahoma voters turned down State Question 847 in the November 3, 2026 general election, with about 54.3% voting no and 45.7% voting yes in results reported by News9 the next day.
The measure would have lowered the constitutional cap on yearly growth in the fair cash value of homesteads and agricultural land from 3% to 1.75%, and the cap for other locally assessed real property, including commercial property, from 5% to 4%.
Because it failed, the existing limits in Article X, Section 8B of the Oklahoma Constitution stay in place: 3% for homesteads and agricultural land and 5% for other real property.
Why it matters to investors
For Oklahoma landlords, rental property is not a homestead, so its taxable value can still rise up to 5% a year while you own it. Build that into multi-year projections, and estimate next year's bill with the Texas and Oklahoma property tax calculator.
Source: News9: Oklahoma SQ 847 fails, keeping current caps on property value increases
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Property tax calculator for Texas and Oklahoma
Estimate yearly property tax in Texas (rates per $100, $140,000 school homestead exemption) or Oklahoma (assessment ratio, $1,000 homestead exemption, millage).
How Oklahoma tax sales work
Oklahoma tax sales explained for investors: land delinquent 3 or more years goes to the county treasurer's resale on the second Monday of June, in person or online.