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A JOINT RESOLUTION
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proposing a constitutional amendment to authorize the legislature |
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to limit the maximum appraised value of a residence homestead for ad |
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valorem tax purposes to the appraised value of the property when it |
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was first qualified as a residence homestead, plus the value of |
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subsequent improvements. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 1(i), Article VIII, Texas Constitution, |
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is amended to 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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[110 percent, or a greater percentage, of] the appraised value of |
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the residence homestead for the tax year in which the owner first |
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qualified the property for an exemption under Section 1-b of this |
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article and the value of subsequent improvements made to the |
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property [preceding tax year]. A limitation on appraised values |
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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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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 limit the maximum appraised value of a residence |
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homestead for ad valorem tax purposes to the appraised value of the |
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property when it was first qualified as a residence homestead, plus |
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the value of subsequent improvements." |