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Applicant and Assessor Disagree on Gross‑Income Calculation for Senior Homestead Freeze Application
Summary
Brooks Wright appeared June 23 before the Oklahoma County Board of Equalization seeking a senior homestead valuation freeze, presenting a 2024 federal return he said showed total gross household income below the limit due to startup losses.
Brooks Wright appeared June 23 before the Oklahoma County Board of Equalization seeking a senior homestead valuation freeze. Wright said his 2024 federal tax return showed total gross household income below the statutory threshold because business startup losses resulted in a negative total on his return and that he therefore qualified for the freeze. Assessor staff (Homestead/Exceptions) said Wright’s application listed an IRA distribution of $300,000 that pushed gross household income above the threshold the office uses for 2025.
The iss…
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