Honorable Dustin Burrows, Chair, House Committee on Ways & Means
FROM:
John McGeady, Assistant Director Sarah Keyton, Assistant Director Legislative Budget Board
IN RE:
HJR28 by Bohac (Proposing a constitutional amendment to authorize the legislature to set a lower limit on the maximum appraised value of a residence homestead for ad valorem taxation.), As Introduced
No fiscal implication to the State is anticipated, other than the cost of publication. Any additional fiscal implication would be attributable to the corresponding enabling legislation.
The cost to the state for publication of the resolution is $177,289.
The resolution would propose an amendment to Section 1, Article VIII, of the Texas Constitution, to authorize the Legislature by general law to reduce the current limitation on the maximum appraised value of a residence homestead for property tax purposes from 110 percent of the preceding tax year's appraised value to 105 percent or a greater percentage.
The constitutional amendment would permit but not require the Legislature to reduce the limitation on residence homestead appraised value from 110 percent to 105 percent. Consequently, any cost is shown in the fiscal note for the associated implementing legislation (HB 383).
The cost to the state for publication of the resolution is $177,289.
The proposed amendment would be submitted to voters at an election to be held November 5, 2019.
Local Government Impact
The proposed constitutional amendment alone would have no fiscal implication to units of local government. Any fiscal implication would be attributable to the corresponding enabling legislation.