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A JOINT RESOLUTION
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proposing a constitutional amendment to authorize the legislature |
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to limit the maximum average annual increase in the appraised value |
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of residence homesteads for ad valorem tax purposes to five percent |
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or less and to permit the voters of a county to establish a higher |
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limitation not to exceed 10 percent on increases for residence |
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homesteads in the county. |
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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 ad valorem tax purposes to five [10] |
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percent, or a lesser [greater] percentage, for each year since the |
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most recent tax appraisal. A limitation on appraisal increases |
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authorized by this 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) and (b) of this |
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section, if the Legislature establishes a limitation on increases |
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in the appraised value of residence homesteads as authorized by |
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Subsection (i) of this section, the commissioners court of a county |
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may call an election in the county to permit the voters to determine |
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by majority vote whether to establish for purposes of ad valorem |
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taxation by each political subdivision in the county a limitation |
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on the maximum average annual percentage increase in the appraised |
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value of residence homesteads in the county that is greater than the |
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percentage established by the Legislature under Subsection (i) of |
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this section but not more than 10 percent. The ballot proposition |
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shall specify the proposed percentage limitation on appraisal |
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increases. A limitation on appraisal increases established under |
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this subsection takes effect and expires in the manner provided by |
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Subsection (i) of this section. If the voters of a county establish |
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a limitation on appraisal increases under this subsection, the |
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limitation remains in effect until amended or repealed by the |
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voters of the county at a subsequent election called by the |
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governing body of the county. The Legislature by general law may |
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limit the frequency with which elections authorized by this |
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subsection may be called in a county. |
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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 to authorize the |
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legislature to limit the maximum average annual increase in the |
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appraised value of residence homesteads for ad valorem tax purposes |
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to five percent or less and to permit the voters of a county to |
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establish a higher limitation not to exceed 10 percent on increases |
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for residence homesteads in the county." |