83R2272 TJB-F
 
  By: Creighton H.J.R. No. 58
 
 
 
A JOINT RESOLUTION
  proposing a constitutional amendment to authorize the legislature
  to limit the maximum appraised value of a residence homestead for ad
  valorem tax purposes to 105 percent or more of the appraised value
  of the property for the preceding tax year.
         BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 1(i), Article VIII, Texas Constitution,
  is amended to read as follows:
         (i)  Notwithstanding Subsections (a) and (b) of this
  section, the Legislature by general law may limit the maximum
  appraised value of a residence homestead for ad valorem tax
  purposes in a tax year to the lesser of the most recent market value
  of the residence homestead as determined by the appraisal entity or
  105 [110] percent, or a greater percentage, of the appraised value
  of the residence homestead for the preceding tax year. A limitation
  on appraised values authorized by this subsection:
               (1)  takes effect as to a residence homestead on the
  later of the effective date of the law imposing the limitation 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; and
               (2)  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.
         SECTION 2.  This proposed constitutional amendment shall be
  submitted to the voters at an election to be held November 5, 2013.
  The ballot shall be printed to permit voting for or against the
  proposition: "The constitutional amendment to authorize the
  legislature to limit the maximum appraised value of a residence
  homestead for ad valorem tax purposes to 105 percent or more of the
  appraised value of the property for the preceding tax year."