| |
| |
|
|
A JOINT RESOLUTION
|
|
|
proposing a constitutional amendment authorizing the governing |
|
|
body of a political subdivision to adopt an exemption from ad |
|
|
valorem taxation of a portion, expressed as a dollar amount, of the |
|
|
market value of an individual's residence homestead. |
|
|
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Section 1-b, Article VIII, Texas Constitution, |
|
|
is amended by adding Subsection (e-1) to read as follows: |
|
|
(e-1) The governing body of a political subdivision may |
|
|
exempt from ad valorem taxation a portion, expressed as a dollar |
|
|
amount, of the market value of the residence homestead of an |
|
|
individual. The amount of the exemption may not be less than |
|
|
$5,000. The legislature by general law may prohibit the governing |
|
|
body of a political subdivision that adopts an exemption under this |
|
|
subsection from reducing the amount of or repealing the exemption. |
|
|
An individual is entitled to receive other applicable exemptions |
|
|
provided by law. Where ad valorem tax has previously been pledged |
|
|
for the payment of debt, a political subdivision may continue to |
|
|
levy and collect the tax against the value of the homesteads |
|
|
exempted under this subsection until the debt is discharged if the |
|
|
cessation of the levy would impair the obligation of the contract by |
|
|
which the debt was created. The legislature by general law may |
|
|
prescribe procedures for the administration of this subsection. |
|
|
SECTION 2. The following temporary provision is added to |
|
|
the Texas Constitution: |
|
|
TEMPORARY PROVISION. (a) This temporary provision applies |
|
|
to the constitutional amendment proposed by the 88th Legislature, |
|
|
Regular Session, 2023, authorizing the governing body of a |
|
|
political subdivision to adopt an exemption from ad valorem |
|
|
taxation of a portion, expressed as a dollar amount, of the market |
|
|
value of an individual's residence homestead. |
|
|
(b) Section 1-b(e-1), Article VIII, of this constitution, |
|
|
as added by the amendment, takes effect beginning with the tax year |
|
|
that begins January 1, 2024. |
|
|
(c) This temporary provision expires January 1, 2025. |
|
|
SECTION 3. 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 authorizing the |
|
|
governing body of a political subdivision to adopt an exemption |
|
|
from ad valorem taxation of a portion, expressed as a dollar amount, |
|
|
of the market value of an individual's residence homestead." |