LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 78TH LEGISLATIVE REGULAR SESSION

March 11, 2003

TO:	Honorable Fred Hill, Chair, House Committee on Local Government Ways and Means
FROM:	John Keel, Director, Legislative Budget Board
IN RE:	HJR32 by Wong (Proposing a constitutional amendment to authorize the legislature to set a lower limit on the maximum average annual percentage increase in the appraised value of a residence homestead for ad valorem tax purposes.), As Introduced

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 $85,275.

The resolution would propose a constitutional amendment to Article VIII of the Texas Constitution to authorize the Legislature to reduce the permissible cap for the maximum annual increase in the appraised value of residence homesteads for ad valorem tax purposes to 5 percent or a greater percentage. The current constitutional limit is 10 percent or a greater percentage.

The proposed amendment alone would have no fiscal impact on the state or units of local government. The enabling legislation associated with this proposed constitutional amendment is HB 474.

Local Government Impact

No fiscal implication to units of local government is anticipated.

Source Agencies:	304 Comptroller Of Public Accounts
LBB Staff:	JK, SD, WP, BR