79R3540 JD-D

By:  Leibowitz                                                  H.J.R. No. 36 


A JOINT RESOLUTION
proposing a constitutional amendment to authorize the legislature to limit the maximum average annual increase in the appraised value of a residence homestead 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 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 as to a residence homestead 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 the owner qualifies the property for an exemption under Section 1-b of this article; and (2) expires on January 1 of the first tax year that neither the owner of the property when the limitation took effect 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 8, 2005. The ballot shall be printed to permit voting for or against the proposition: "The constitutional amendment to authorize the legislature to limit the maximum average annual increase in the appraised value of a residence homestead for ad valorem tax purposes to three percent or more."