LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 80TH LEGISLATIVE REGULAR SESSION

April 20, 2007

TO:	Honorable Steve Ogden, Chair, Senate Committee on Finance
FROM:	John S. O'Brien, Director, Legislative Budget Board
IN RE:	SJR15 by Patrick, Dan (Proposing a constitutional amendment to authorize the legislature to establish a 10 percent limit on annual increases in the appraised value for ad valorem tax purposes of certain real property, other than residence homesteads, used primarily for residential purposes by the owner of the property.), As Introduced

No fiscal implication to the State is anticipated, other than the cost of publication.

The cost to the state for publication of the resolution is $77,468.

The resolution would propose a constitutional amendment to Article VIII of the Texas Constitution to authorize the Legislature to expand the scope of the 10 percent limit on annual increases in the appraised value of residence homesteads to include property used primarily for residential purposes by the owner of the property.

 

The proposed amendment alone would have no fiscal impact on the state or units of local government. Any fiscal impact would be associated with the corresponding enabling legislation.

 

The proposed amendment would be submitted to the voters at an election to be held November 6, 2007.

Local Government Impact

No fiscal implication to units of local government is anticipated.

Source Agencies:

304 Comptroller of Public Accounts

LBB Staff:

JOB, CT, SD, SJS