By Merritt H.J.R. No. 122 75R8125 SMH-D A JOINT RESOLUTION 1-1 proposing a constitutional amendment to limit increases in the 1-2 appraised value of real property for ad valorem tax purposes. 1-3 BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-4 SECTION 1. Section 1, Article VIII, Texas Constitution, is 1-5 amended by adding Subsections (i), (j), (k), and (l) to read as 1-6 follows: 1-7 (i) The appraised value of real property, other than real 1-8 property appraised as provided by Section 1-d or 1-d-1 of this 1-9 article, for ad valorem tax purposes for the first tax year after 1-10 the tax year in which the owner acquires the property may not 1-11 exceed the market value of the property. Notwithstanding 1-12 Subsections (a) and (b) of this section, the appraised value of the 1-13 property in each subsequent tax year until the end of the tax year 1-14 in which the ownership of the property changes may not exceed the 1-15 sum of: 1-16 (1) the appraised value of the property for tax 1-17 purposes for the preceding year as adjusted by the appraisal office 1-18 for the current tax year to reflect the change from the preceding 1-19 tax year in the purchasing power of the dollar for consumers in 1-20 this state; and 1-21 (2) the market value of all new improvements to the 1-22 property. 1-23 (j) In Subsection (i) of this section, "new improvement" 1-24 means an improvement to real property that is made after the 2-1 appraisal of the property for the preceding tax year and that 2-2 increases the market value of the property. The term does not 2-3 include ordinary maintenance of an existing structure or the 2-4 grounds or another feature of the property. 2-5 (k) For each tax year, using the index that the Comptroller 2-6 of Public Accounts considers to most accurately report changes in 2-7 the purchasing power of the dollar for consumers in this state, the 2-8 comptroller shall determine and publicize the percentage by which 2-9 the appraised value of real property may be increased under 2-10 Subsection (i)(1) of this section. Each appraisal office shall use 2-11 the percentage determined by the comptroller under this subsection 2-12 to determine the maximum increase in the appraised value of real 2-13 property appraised by that appraisal office. 2-14 (l) For purposes of Subsection (i) of this section, the 2-15 owner of real property on January 1, 1998, is considered to have 2-16 acquired the property in the 1997 tax year. 2-17 SECTION 2. The following temporary provision is added to the 2-18 Texas Constitution: 2-19 TEMPORARY PROVISION. (a) This temporary provision applies 2-20 to the constitutional amendment proposed by __J.R. No. __, 75th 2-21 Legislature, Regular Session, 1997, and expires January 1, 2000. 2-22 (b) The amendment takes effect January 1, 1998. 2-23 SECTION 3. This proposed constitutional amendment shall be 2-24 submitted to the voters at an election to be held November 4, 1997. 2-25 The ballot shall be printed to permit voting for or against the 2-26 proposition: "The constitutional amendment to limit increases in 2-27 the appraised value of real property for ad valorem tax purposes."