| |
| |
|
|
A JOINT RESOLUTION
|
|
|
proposing a constitutional amendment to authorize the legislature |
|
|
to limit the maximum appraised value of real property for ad valorem |
|
|
tax purposes. |
|
|
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 real property [a residence homestead] for ad |
|
|
valorem tax purposes in a tax year to the lesser of the most recent |
|
|
market value of the property [residence homestead] as determined by |
|
|
the appraisal entity or 110 percent, or a greater percentage, of the |
|
|
appraised value of the property [residence homestead] for the |
|
|
preceding tax year. A limitation on appraised values authorized by |
|
|
this subsection: |
|
|
(1) takes effect in the tax year following the first |
|
|
tax year in which the owner owns the property on January 1 [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 |
|
|
following the tax year in which [that neither] the owner of the |
|
|
property when the limitation took effect ceases to own the |
|
|
property, except that the Legislature by general law may provide |
|
|
for the limitation applicable to a residence homestead to continue |
|
|
during ownership of the property by [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 7, 2023. |
|
|
The ballot shall be printed to permit voting for or against the |
|
|
proposition: "The constitutional amendment to authorize the |
|
|
legislature to limit the maximum appraised value of real property |
|
|
for ad valorem tax purposes to 110 percent or more of the appraised |
|
|
value of the property for the preceding tax year." |