Proposing a constitutional amendment to authorize the legislature to set a lower limit on the maximum appraised value of a residence homestead for ad valorem taxation.

The text as introduced · 291 words

90R3118 RDS-D

By: Patterson
H.J.R. No. 38

A JOINT RESOLUTION

proposing a constitutional amendment to authorize the legislature

to set a lower limit on the maximum appraised value of a residence

homestead for ad valorem taxation.

BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:

SECTION 1. Section 1(i), Article VIII, Texas Constitution,

is amended to read as follows:

(i) Notwithstanding Subsections (a) and (b) of this

section, the Legislature by general law may limit the maximum

appraised value of a residence homestead for ad valorem tax

purposes in a tax year to the lesser of the most recent market value

of the residence homestead as determined by the appraisal entity or

103 [ 110 ] percent, or a greater percentage, of the appraised value

of the residence homestead for the preceding tax year. A limitation

on appraised values authorized by this subsection:

(1) takes effect as to a residence homestead on the

later of the effective date of the law imposing the limitation or

January 1 of the tax year following the first tax year the owner

qualifies the property for an exemption under Section 1-b of this

article; and

(2) expires on January 1 of the first tax year that

neither the owner of the property when the limitation took effect

nor the owner's spouse or surviving spouse qualifies for an

exemption under Section 1-b of this article.

SECTION 2. This proposed constitutional amendment shall be

submitted to the voters at an election to be held November 2, 2027.

The ballot shall be printed to permit voting for or against the

proposition: "The constitutional amendment to authorize the

legislature to set a lower limit on the maximum appraised value of a

residence homestead for ad valorem taxation."