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A JOINT RESOLUTION
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proposing a constitutional amendment authorizing the legislature |
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to provide for an exemption from ad valorem taxation of a portion of |
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the assessed value of a residence homestead based on the average |
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assessed value of all qualified residence homesteads that are |
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located in the same county as the homestead. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 1-b, Article VIII, Texas Constitution, |
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is amended by adding Subsection (i) to read as follows: |
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(i) In addition to any other exemption authorized or |
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prescribed by this section, the legislature by general law may |
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provide for an exemption from ad valorem taxation by a political |
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subdivision of this state of a portion of the assessed value of an |
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individual's residence homestead in an amount equal to 10 percent, |
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or a greater percentage not to exceed 25 percent specified by the |
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governing body of the political subdivision in the manner provided |
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by law for official action by the body, of the average assessed |
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value of all residence homesteads that are located in the same |
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county as the individual's homestead and that qualify for an |
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exemption under this section. For purposes of computing the |
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average assessed value of residence homesteads, the general law may |
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provide for disregarding a change in the assessed value of a |
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residence homestead or concerning the qualification of a property |
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for a residence homestead exemption made after a specified date. |
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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 provide for an exemption from ad valorem taxation of |
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a portion of the assessed value of a residence homestead based on |
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the average assessed value of all qualified residence homesteads |
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that are located in the same county as the homestead." |