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A JOINT RESOLUTION
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proposing a constitutional amendment to authorize the legislature |
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to establish a 10 percent limit on annual increases in the appraised |
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value for ad valorem tax purposes of certain real property, other |
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than residence homesteads, used primarily for residential purposes |
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by the owner of the property. |
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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) This subsection does not apply to a residence |
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homestead to which Subsection (i) of this section applies. |
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Notwithstanding Subsections (a) and (b) of this section, the |
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legislature by general law may limit the maximum average annual |
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percentage increase in the appraised value of real property that is |
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designed or adapted for residential purposes and used primarily for |
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residential purposes by the owner of the property 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 in the tax year following the first |
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tax year in which the owner owns the property on January 1 and in |
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which the owner uses the property primarily for the owner's |
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residential purposes; and |
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(2) expires on January 1 of the tax year following the |
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tax year in which the owner of the property when the limitation took |
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effect ceases to own the property or ceases to use the property |
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primarily for the owner's residential purposes. |
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SECTION 2. The following temporary provision is added to |
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the Texas Constitution: |
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TEMPORARY PROVISION. (a) This temporary provision applies |
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to the constitutional amendment proposed by the 80th Legislature, |
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Regular Session, 2007, authorizing the legislature to establish a |
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10 percent limit on annual increases in the appraised value for ad |
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valorem tax purposes of certain real property, other than residence |
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homesteads, used primarily for residential purposes by the owner of |
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the property and expires January 1, 2009. |
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(b) Section 1(i-1), Article VIII, of this constitution |
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takes effect January 1, 2008, and applies only to a tax year that |
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begins on or after that date. |
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SECTION 3. 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 a 10 percent limit on annual increases in |
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the appraised value for ad valorem tax purposes of certain real |
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property, other than residence homesteads, used primarily for |
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residential purposes by the owner of the property." |