LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 78TH LEGISLATIVE REGULAR SESSION

May 13, 2003

TO:	Honorable Frank Madla, Chair, Senate Committee on Intergovernmental Relations
FROM:	John Keel, Director, Legislative Budget Board
IN RE:	HJR4 by Bohac (Proposing a constitutional amendment authorizing the legislature to limit the maximum average annual increase in the appraised value of real property for ad valorem tax purposes to five percent or more.), As Engrossed

No fiscal implication to the State is anticipated, other than the cost of publication.

The cost to the state for publication of the resolution is $475,584.

The resolution would allow the Legislature to reduce the current 10 percent maximum annual percentage cap in the appraised value of a residence homestead to a maximum of five percent and expand the application of the cap to include all real property. The issue would be presented to the voters in an election to be held September 13, 2003.

The resolution would have no fiscal impact, except the cost of publication. If enabling legislation were enacted, however, there would be a fiscal impact on the state, due to the state’s public school financing formulas.

Local Government Impact

No fiscal implication to units of local government is anticipated.

Source Agencies:

LBB Staff:

JK, DLBa, SD, WP, DLBe