88R1350 RDS-D
 
  By: Metcalf H.J.R. No. 131
 
 
 
A JOINT RESOLUTION
  proposing a constitutional amendment to authorize the legislature
  to limit the maximum appraised value of certain commercial real
  property for ad valorem tax purposes.
         BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 1, Article VIII, Texas Constitution, is
  amended by adding Subsection (l) to read as follows:
         (l)  Notwithstanding Subsections (a) and (b) of this
  section, the Legislature by general law may limit the maximum
  appraised value of a parcel of commercial real property with a
  market value that is not greater than an amount prescribed by the
  Legislature for ad valorem tax purposes in a tax year to the lesser
  of the most recent market value of the property as determined by the
  appraisal entity or 110 percent, or a greater percentage, of the
  appraised value of the property for the preceding tax year.  A law
  enacted under this subsection must define "commercial real
  property" for purposes of this subsection and may prescribe
  additional eligibility requirements for the limitation on
  appraised value authorized by this subsection.  A law enacted under
  this subsection must prescribe the maximum market value that a
  parcel of commercial real property may have in the tax year in which
  the limitation on appraised value authorized by this subsection
  takes effect as to the property in order for the property to be
  eligible for the limitation.  A limitation on appraised value
  authorized by this subsection:
               (1)  takes effect as to a parcel of commercial real
  property 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
  in which the owner owns the property on January 1 and in which the
  property meets the definition of commercial real property; and
               (2)  expires on January 1 of the tax year following the
  first tax year in which the owner of the property ceases to own the
  property or the property no longer meets the definition of
  commercial real property.
         SECTION 2.  This proposed constitutional amendment shall be
  submitted to the voters at an election to be held November 7, 2023.
  The ballot shall be printed to permit voting for or against the
  proposition: "The constitutional amendment to authorize the
  legislature to limit for ad valorem tax purposes the maximum
  appraised value of commercial real property with a market value
  that is not greater than an amount prescribed by the legislature to
  110 percent or more of the appraised value of the property for the
  preceding tax year."