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A JOINT RESOLUTION
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proposing a constitutional amendment to authorize the legislature |
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to provide for limitations on the appraised value of certain real |
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property in specified areas for ad valorem tax purposes. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Article VIII, Texas Constitution, is amended by |
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adding Sections 1-a-1 and 1-a-2 to read as follows: |
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Sec. 1-a-1. (a) Notwithstanding Sections 1(a) and (b) of |
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this article and Section 56, Article III, of this constitution, the |
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legislature by local law may authorize the governing body of one or |
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more political subdivisions to adopt a temporary limitation on the |
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appraised value for taxation by the political subdivision of one or |
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more types of real property located in certain areas specified by |
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law. Property subject to the limitation shall be taxed at the |
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lesser of the appraised value of the property as otherwise |
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determined by law or the appraised value of the property for the tax |
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year preceding the tax year in which the limitation first applies. |
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(b) A law enacted under this section: |
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(1) must specify one or more areas to which the |
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appraisal limitation authorized by this section applies; |
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(2) must prescribe the period for which the limitation |
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applies, which may not be longer than 15 consecutive tax years; |
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(3) must prescribe the types of real property to which |
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the limitation applies; |
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(4) may prescribe additional eligibility requirements |
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for the limitation; and |
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(5) may prescribe procedures for the administration of |
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the limitation. |
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(c) Section 57, Article III, Texas Constitution, does not |
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apply to a local law authorized by this section. |
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(d) This section expires January 1, 2040. |
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Sec. 1-a-2. (a) Notwithstanding Sections 1(a) and (b) of |
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this article and Section 56, Article III, of this constitution, the |
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legislature by local law may limit the maximum appraised value of a |
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rapidly appreciating residence homestead located in certain areas |
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specified by law for ad valorem tax purposes in a tax year to the |
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lesser of the most recent market value of the property as determined |
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by the appraisal entity or to the appraised value of the property |
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for the 2017 tax year. |
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(b) A limitation on appraised values authorized by this |
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section: |
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(1) takes effect as to a rapidly appreciating |
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residence homestead on the effective date of the law imposing the |
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limitation; 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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(c) A law enacted under this section: |
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(1) must specify one or more areas to which the |
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appraisal limitation authorized by this section applies; |
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(2) must define "rapidly appreciating residence |
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homestead"; and |
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(3) may prescribe additional eligibility requirements |
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for the limitation. |
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(d) Section 57, Article III, Texas Constitution, does not |
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apply to a local law authorized by this section. |
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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 permit voting for or against the |
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proposition: "The constitutional amendment to authorize the |
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legislature to provide for limitations on the appraised value of |
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certain real property in specified areas for ad valorem tax |
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purposes." |