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A JOINT RESOLUTION
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proposing a constitutional amendment providing that a limitation on |
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the maximum percentage increase in the appraised value of a |
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residence homestead for ad valorem taxation established by the |
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legislature applies to a residence homestead regardless of the |
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number of years since the most recent tax appraisal of the |
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homestead. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 1(i), Article VIII, Texas Constitution, |
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is amended to read as follows: |
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(i) Notwithstanding Subsections (a) and (b) of this |
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section, the Legislature by general law may limit the maximum |
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[average annual] percentage increase in the appraised value of |
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residence homesteads for ad valorem tax purposes to 10 percent, or a |
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greater percentage, [for each year] since the most recent tax |
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appraisal. A limitation on appraisal increases authorized by this |
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subsection: |
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(1) takes effect as to a residence homestead on the |
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later of the effective date of the law imposing the limitation or |
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January 1 of the tax year following the first tax year the owner |
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qualifies the property for an exemption under Section 1-b of this |
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article; and |
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(2) expires on January 1 of the first tax year that |
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neither the owner of the property when the limitation took effect |
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nor the owner's spouse or surviving spouse qualifies for an |
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exemption under Section 1-b of this article. |
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SECTION 2. This proposed constitutional amendment shall be |
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submitted to the voters at an election to be held November 6, 2007. |
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The ballot shall be printed to permit voting for or against the |
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proposition: "The constitutional amendment providing that a |
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limitation on the maximum percentage increase in the appraised |
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value of a residence homestead for ad valorem taxation established |
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by the legislature applies to a residence homestead regardless of |
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the number of years since the most recent tax appraisal of the |
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homestead |
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." |