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A JOINT RESOLUTION
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proposing a constitutional amendment authorizing the legislature |
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to provide for a limitation on the appraised value for ad valorem |
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tax purposes of certain residence homesteads of certain veterans. |
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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 (k) to read as follows: |
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(k) Notwithstanding Subsections (a), (b), and (i) of this |
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section, 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 in a tax year if the homestead is owned by a veteran of the |
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armed services of the United States and was donated to or renovated |
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for the veteran at no charge to the veteran. A limitation on |
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appraised value authorized by this subsection must be the lesser of |
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the most recent market value of the homestead as determined by the |
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appraisal entity or, for a homestead donated to a veteran, the sum |
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of the appraised value of the land and $150,000. For a homestead |
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renovated at no charge to a veteran, the limitation on appraised |
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value authorized by this subsection must be the lesser of the most |
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recent market value of the homestead as determined by the appraisal |
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entity or the appraised value of the property for the tax year |
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preceding the renovation. A limitation on appraised value |
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authorized by this subsection takes effect as to a residence |
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homestead on the later of the effective date of the law imposing the |
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limitation or January 1 of the tax year following the first tax year |
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the owner qualifies the property for a limitation under this |
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subsection and expires on January 1 of the first tax year that the |
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owner no longer qualifies for a limitation under this subsection. |
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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 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 provide for a limitation on the appraised value for |
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ad valorem tax purposes of certain residence homesteads of certain |
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veterans." |