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 $178,333.
The resolution would propose an amendment to Article VIII of the Texas Constitution to permit the Legislature by local law to authorize the governing body of a political subdivision to adopt a temporary limitation on the appraised value for real property located in specified areas. Property subject to the limitation would be taxed at the lesser of the appraised value or the appraised value in the year before the limitation took effect. The resolution would require that the law specify certain areas and prescribes other requirements.
Adoption of the proposed constitutional amendment alone would have no fiscal impact on the state or units of local government other than the cost of publication. Any fiscal impact would depend on the corresponding enabling legislation (HB 1577).
The cost to the state for publication of the resolution is $178,333.
The proposed amendment would be submitted to the voters at an election to be held November 2, 2021.
Adoption of the proposed constitutional amendment alone would have no fiscal impact on the state or units of local government. Any fiscal impact would depend on the corresponding enabling legislation.