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SENATE JOINT RESOLUTION
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proposing a constitutional amendment authorizing the governing |
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body of a political subdivision to establish for purposes of ad |
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valorem taxation by the political subdivision a limit on the |
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maximum average annual percentage increase in the appraised value |
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of residence homesteads in the political subdivision. |
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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 adding Subsection (i-1) to read as follows: |
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(i-1) Notwithstanding Subsections (a) and (b) of this |
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section, the governing body of a political subdivision may |
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establish for purposes of ad valorem taxation by the political |
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subdivision a limit on the maximum average annual percentage |
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increase in the appraised value of residence homesteads in the |
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political subdivision of not less than three percent. A limitation |
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on residence homestead appraisal increases established under this |
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subsection takes effect and expires in the manner provided by |
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Subsection (i) of this section for a limitation enacted under that |
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subsection. If a political subdivision establishes a limitation |
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under this subsection applicable to a tax year for which the |
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legislature has enacted a limitation under Subsection (i), the |
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lower percentage limitation applies to ad valorem taxation by the |
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political subdivision. If the governing body of a political |
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subdivision establishes a limit on appraisal increases under this |
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subsection, the limitation remains in effect until amended, |
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repealed, or rescinded by the governing body. An amendment, |
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repeal, or rescission of the limit on appraisal increases may not |
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take effect before January 1 of the sixth tax year following the tax |
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year in which the limitation on appraisal increases was |
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established. A subsequent amendment of the limit on appraisal |
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increases may not take effect before January 1 of the sixth tax year |
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following the tax year in which the preceding amendment was |
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adopted. |
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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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governing body of a political subdivision to establish for purposes |
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of ad valorem taxation by the political subdivision a limit on the |
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maximum average annual percentage increase in the appraised value |
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of residence homesteads in the political subdivision of not less |
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than three percent." |