79S30431 JD-D

By:  Bonnen                                                     H.J.R. No. 19 


A JOINT RESOLUTION
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 three percent or more. BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Section 1(i), Article VIII, Texas Constitution, is amended to read as follows: (i) Notwithstanding Subsections (a) and (b) of this section, the Legislature by general law may limit the maximum average annual percentage increase in the appraised value of real property [residence homesteads] for ad valorem tax purposes to three [10] percent, or a greater percentage, for each year since the most recent tax appraisal. A limitation on appraisal increases authorized by this subsection: (1) takes effect in the tax year following the first tax year in which the owner owns the property on January 1, or, if the property qualifies for an exemption as the [to a] residence homestead of the owner under Section 1-b of this article in the tax year in which the owner acquires the property, in [on the later of the effective date of the law imposing the limitation or January 1 of] the tax year following the [first] tax year in which the owner acquires [qualifies] the property [for an exemption under Section 1-b of this article]; and (2) expires on January 1 of the [first] tax year following the tax year in which [that neither] the owner of the property when the limitation took effect ceases to own the property, except that the Legislature by general law may provide for the limitation applicable to a residence homestead to continue during ownership of the property by [nor] the owner's spouse or surviving spouse [qualifies for an exemption under Section 1-b of this article]. SECTION 2. This proposed constitutional amendment shall be submitted to the voters at an election to be held November 7, 2006. The ballot shall be printed to permit voting for or against the proposition: "The 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 three percent or more."