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A JOINT RESOLUTION
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proposing a constitutional amendment to exempt from ad valorem |
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taxation 50 percent of the appraised value of the residence |
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homestead of a person who has received a residence homestead |
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exemption on the property for at least the preceding 10 years. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 1-b, Article VIII, Texas Constitution, |
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is amended by adding Subsection (y) to read as follows: |
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(y) A person is entitled to an exemption from ad valorem |
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taxation of 50 percent of the appraised value of the person's |
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residence homestead if the person has received an exemption under |
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this section for that residence homestead for at least the |
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preceding 10 years. Where ad valorem tax of a political subdivision |
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has previously been pledged for the payment of debt, the taxing |
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officers of the political subdivision may continue to levy and |
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collect the tax against the value of residence homesteads exempted |
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under this subsection until the debt is discharged if the cessation |
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of the levy would impair the obligation of the contract by which the |
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debt was created. The legislature shall provide for formulas to |
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protect school districts against all or part of the revenue loss |
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incurred by the implementation of this subsection. The legislature |
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by general law may prescribe procedures for the administration of |
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this subsection. |
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SECTION 2. The following temporary provision is added to |
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the Texas Constitution: |
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TEMPORARY PROVISION. (a) This temporary provision applies |
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to the constitutional amendment proposed by the 88th Legislature, |
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Regular Session, 2023, to exempt from ad valorem taxation 50 |
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percent of the appraised value of the residence homestead of a |
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person who has received a residence homestead exemption for the |
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property for at least the preceding 10 years. |
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(b) Section 1-b(y), Article VIII, of this constitution |
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takes effect January 1, 2024. |
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(c) This temporary provision expires January 1, 2025. |
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SECTION 3. This proposed constitutional amendment shall be |
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submitted to the voters at an election to be held November 7, 2023. |
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The ballot shall be printed to permit voting for or against the |
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proposition: "The constitutional amendment to exempt from ad |
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valorem taxation 50 percent of the appraised value of the residence |
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homestead of a person who has received a residence homestead |
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exemption for the property for at least the preceding 10 years." |