79S20016 JD-D



By:  Janek                                                      S.J.R. No. 4  





A JOINT RESOLUTION
proposing a constitutional amendment authorizing the legislature to authorize the governing body of a political subdivision to establish for purposes of ad valorem taxation by the political subdivision a lower limit on the maximum average annual percentage increase in the appraised value of residence homesteads in the political subdivision.
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 1, Article VIII, Texas Constitution, is amended by adding Subsection (i-1) to read as follows: (i-1) Notwithstanding Subsections (a), (b), and (i) of this section, the Legislature by general law may authorize the governing body of a political subdivision to establish for purposes of ad valorem taxation by the political subdivision a limit on the maximum average annual percentage increase in the appraised value of residence homesteads in the political subdivision that is less than 10 percent but not less than three percent. A limitation on residence homestead appraisal increases established under this subsection takes effect and expires in the manner provided by Subsection (i) of this section. If the governing body of a political subdivision establishes a limit on appraisal increases under this subsection, the limitation remains in effect until amended, repealed, or rescinded by the governing body. An amendment, repeal, or rescission of the limit on appraisal increases may not take effect before January 1 of the sixth tax year following the tax year in which the limitation on appraisal increases was established. A subsequent amendment of the limit on appraisal increases may not take effect before January 1 of the sixth tax year following the tax year in which the preceding amendment was adopted. SECTION 2. This proposed constitutional amendment shall be submitted to the voters at an election to be held November 8, 2005. The ballot shall be printed to permit voting for or against the proposition: "The constitutional amendment authorizing the legislature to authorize the governing body of a political subdivision to establish for purposes of ad valorem taxation by the political subdivision a lower limit on the maximum average annual percentage increase in the appraised value of residence homesteads in the political subdivision." Proposing a constitutional amendment authorizing the legislature to authorize the governing body of a political subdivision to establish for purposes of ad valorem taxation by the political subdivision a lower limit on the maximum average annual percentage increase in the appraised value of residence homesteads in the political subdivision.