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A JOINT RESOLUTION
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proposing a constitutional amendment to authorize the legislature |
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to set lower limits on the maximum appraised value of residence |
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homesteads and of real property other than a residence homestead |
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for ad valorem tax purposes and to make permanent the limit on the |
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maximum appraised value of real property other than a residence |
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homestead. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Sections 1(i) and (n), Article VIII, Texas |
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Constitution, are 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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102.5 [110] percent, or a greater percentage, of the appraised |
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value of the residence homestead 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 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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(n) This subsection does not apply to a residence homestead |
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to which Subsection (i) of this section applies. Notwithstanding |
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Subsections (a) and (b) of this section, the Legislature by general |
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law may limit the maximum appraised value of real property for ad |
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valorem tax purposes in a tax year to the lesser of the most recent |
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market value of the property as determined by the appraisal entity |
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or 108 [120] percent, or a greater percentage, of the appraised |
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value of the property for the preceding tax year. The general law |
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enacted under this subsection may prescribe additional eligibility |
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requirements for the limitation on appraised values authorized by |
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this subsection. A limitation on appraised values authorized by |
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this subsection: |
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(1) takes effect as to a parcel of real property |
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described by this subsection on the later of the effective date of |
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the law imposing the limitation or January 1 of the tax year |
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following the first tax year in which the owner owns the property on |
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January 1; 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. |
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SECTION 2. Section 1(n-1), Article VIII, Texas |
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Constitution, is repealed. |
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SECTION 3. This proposed constitutional amendment shall be |
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submitted to the voters at an election to be held November 4, 2025. |
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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 set lower limits on the maximum appraised value of |
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residence homesteads and of real property other than a residence |
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homestead for ad valorem tax purposes and to make permanent the |
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limit on the maximum appraised value of real property other than a |
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residence homestead." |