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A JOINT RESOLUTION
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proposing a constitutional amendment to authorize the legislature |
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to establish a lower limit on the maximum appraised value of |
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residence homesteads for ad valorem tax purposes and to establish a |
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limit on the value of single-family residences other than residence |
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homesteads for those purposes. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 1, Article VIII, Texas Constitution, is |
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amended by amending Subsection (i) and adding Subsection (l) to |
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read as follows: |
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(i) Notwithstanding Subsections (a) and (b) of this |
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section, the Legislature by general law may limit the maximum |
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appraised value of a residence homestead for ad valorem tax |
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purposes in a tax year to the lesser of the most recent market value |
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of the residence homestead as determined by the appraisal entity or |
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105 [110] percent, or a greater percentage, of the appraised value |
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of the residence homestead for the preceding tax year. A limitation |
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on appraised values authorized by this subsection: |
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(1) takes effect as to a residence homestead on the |
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later of the effective date of the law imposing the limitation or |
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January 1 of the tax year following the first tax year the owner |
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qualifies the property for an exemption under Section 1-b of this |
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article; and |
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(2) expires on January 1 of the first tax year that |
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neither the owner of the property when the limitation took effect |
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nor the owner's spouse or surviving spouse qualifies for an |
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exemption under Section 1-b of this article. |
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(l) Notwithstanding Subsections (a) and (b) of this |
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section, the Legislature by general law may limit the maximum |
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appraised value of a single-family residence other than a residence |
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homestead for ad valorem tax purposes in a tax year to the lesser of |
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the most recent market value of the property as determined by the |
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appraisal entity or 110 percent, or a greater percentage, of the |
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appraised value of the property for the preceding tax year. A |
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limitation on appraised values authorized by this subsection: |
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(1) takes effect as to a single-family residence on |
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the later of the effective date of the law imposing the limitation |
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or January 1 of the tax year following the first tax year in which |
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the owner owns the property on January 1 and in which the property |
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is used as a single-family residence; and |
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(2) expires on January 1 of the tax year following the |
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tax year in which the owner of the property ceases to own the |
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property or the property ceases to be used as a single-family |
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residence. |
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SECTION 2. This proposed constitutional amendment shall be |
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submitted to the voters at an election to be held November 7, 2023. |
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The ballot shall be printed to provide for voting for or against the |
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proposition: "The constitutional amendment to authorize the |
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legislature to limit the maximum appraised value of a residence |
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homestead for ad valorem tax purposes to 105 percent or more of the |
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appraised value of the property for the preceding tax year and to |
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limit the maximum appraised value of a single-family residence |
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other than a residence homestead for those purposes to 110 percent |
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or more of the appraised value of the property for the preceding tax |
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year." |