81R1026 SMH-D
 
  By: Creighton H.J.R. No. 67
 
 
 
A JOINT RESOLUTION
  proposing a constitutional amendment to authorize the legislature
  to provide for a local option election in Montgomery County to limit
  the maximum appraised value of a residence homestead to 103 percent
  or more of the appraised value of the property for the preceding tax
  year for purposes of ad valorem taxation by each political
  subdivision all of the territory of which is located in the county.
         BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 1, Article VIII, Texas Constitution, is
  amended by adding Subsection (j) to read as follows:
         (j)  Notwithstanding Subsections (a), (b), and (i) of this
  section, the Legislature may authorize the commissioners court of
  Montgomery County to call an election in the county to permit the
  voters of the county to determine by majority vote whether to
  establish for purposes of ad valorem taxation by each political
  subdivision all of the territory of which is located in the county a
  percentage limitation on the maximum appraised value of a residence
  homestead in the political subdivision of not less than 103 percent
  of the appraised value of the property for the preceding tax year.
  The ballot proposition shall specify the proposed percentage
  limitation on maximum appraised value. A limitation on maximum
  appraised value established under this subsection takes effect as
  to a residence homestead on the later of January 1 of the tax year
  following the year in which the election is held or January 1 of the
  tax year following the first tax year the owner qualifies the
  property for an exemption under Section 1-b of this article. As to
  a residence homestead, the limitation expires on January 1 of the
  first tax year that neither the owner of the property when the
  limitation took effect nor the owner's spouse or surviving spouse
  qualifies for an exemption under Section 1-b of this article. If
  the voters of the county establish a limitation on maximum
  appraised value under this subsection applicable to a tax year for
  which the Legislature has enacted a limitation under Subsection (i)
  of this section, the lower percentage limitation applies to ad
  valorem taxation by each political subdivision all of the territory
  of which is located in the county. If the voters of the county
  establish a limitation on maximum appraised value under this
  subsection, the limitation remains in effect until the tax year
  following a year in which the limitation is amended or repealed by
  the voters of the county at a subsequent election called by the
  commissioners court for that purpose.
         SECTION 2.  This proposed constitutional amendment shall be
  submitted to the voters at an election to be held November 3, 2009.
  The ballot shall be printed to permit voting for or against the
  proposition: "The constitutional amendment to authorize the
  legislature to provide for a local option election in Montgomery
  County to limit the maximum appraised value of a residence
  homestead to 103 percent or more of the appraised value of the
  property for the preceding tax year for purposes of ad valorem
  taxation by each political subdivision all of the territory of
  which is located in the county."