TO: | Honorable Jim Keffer, Chair, House Committee on Ways & Means |
FROM: | John S. O'Brien, Deputy Director, Legislative Budget Board |
IN RE: | HJR35 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 Introduced |
The cost to the state for publication of the resolution is $66,497.
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 five percent or greater. The current constitutional limit is ten percent or greater. The proposed constitutional amendment would also extend the cap to all real property.
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 784.
Source Agencies: | 304 Comptroller of Public Accounts
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LBB Staff: | JOB, SD, WP, DLBe
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