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A JOINT RESOLUTION
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proposing a constitutional amendment authorizing the legislature |
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to limit the maximum appraised value of certain residence |
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homesteads for ad valorem tax purposes to the purchase price of the |
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property and to limit the frequency of reappraisals of residence |
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homesteads. |
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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 Subsections (k) and (l) to read as follows: |
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(k) Notwithstanding Subsections (a), (b), and (i) of this |
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section, for the tax year following the year in which the property |
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was purchased, the Legislature by general law may limit the maximum |
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appraised value of a residence homestead for ad valorem tax |
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purposes to an amount that is less than the appraised value |
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otherwise provided by law, but not less than the amount that the |
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owner of the residence homestead paid for the property. The |
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applicability of a general law enacted under this subsection must |
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be limited to a bona fide purchaser for value of a property who |
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qualifies the property for an exemption under Section 1-b of this |
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article for the tax year following the year in which the person |
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purchased the property and who applies for the limitation on |
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appraised value under this subsection in the manner provided by |
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law. The Legislature may prescribe or delegate to an appropriate |
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public official or entity the authority to prescribe standards and |
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procedures to administer a law enacted under this subsection, |
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including criteria to be used to determine whether a person was a |
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bona fide purchaser for value of a property. |
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(l) Notwithstanding Subsections (a), (b), and (i) of this |
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section, the Legislature by general law may limit the frequency |
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with which a residence homestead may be reappraised for ad valorem |
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tax 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 82nd Legislature, |
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Regular Session, 2011, to authorize the legislature to limit the |
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maximum appraised value of certain residence homesteads for ad |
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valorem tax purposes to the purchase price of the property and to |
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limit the frequency of reappraisals of residence homesteads. |
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(b) Sections 1(k) and (l), Article VIII, of this |
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constitution take effect January 1, 2012, and apply only to a tax |
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year that begins on or after that date. |
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(c) This temporary provision expires January 1, 2013. |
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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 8, 2011. |
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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 limit the maximum appraised value of certain |
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residence homesteads for ad valorem tax purposes to the purchase |
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price of the property and to limit the frequency of reappraisals of |
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residence homesteads." |