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A JOINT RESOLUTION
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proposing a constitutional amendment authorizing the legislature |
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to establish for purposes of ad valorem taxation by a school |
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district a limit on the annual increase in the appraised value of |
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residence homesteads of five percent or more, and to permit other |
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political subdivisions to adopt a five percent limit on those |
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appraisal increases. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 1, Article VIII, Texas Constitution, is |
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amended by amending Subsection (i) and adding Subsection (i-1) to |
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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 purposes of ad valorem taxation by a |
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school district other than a junior college district [tax purposes] |
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to five percent, or a greater percentage, and for purposes of ad |
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valorem taxation by other political subdivisions to 10 percent, or |
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a 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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(i-1) Notwithstanding Subsections (a), (b), and (i) of this |
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section, the Legislature by general law may authorize the governing |
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body of a political subdivision other than a school district but |
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including a junior college district to establish for purposes of ad |
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valorem taxation by the political subdivision a five percent limit |
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on the maximum average annual percentage increase in the appraised |
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value of residence homesteads in the political subdivision. A |
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limitation on residence homestead appraisal increases established |
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under this subsection takes effect and expires in the manner |
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provided by Subsection (i) of this section. If the governing body |
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of a political subdivision establishes a limit on appraisal |
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increases under this subsection, the limitation remains in effect |
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until repealed or rescinded by the governing body of the political |
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subdivision. |
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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 authorizing the |
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legislature to establish for purposes of ad valorem taxation by a |
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school district a limit on the annual increase in the appraised |
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value of residence homesteads of five percent or more, and to permit |
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other political subdivisions to adopt a five percent limit on those |
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appraisal increases." |