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A JOINT RESOLUTION
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proposing a constitutional amendment to authorize the legislature |
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to provide for the continuation of a limitation on the maximum |
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appraised value of a residence homestead for ad valorem tax |
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purposes if the property is acquired by and qualifies as the |
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homestead of an heir of the owner or the owner's spouse or surviving |
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spouse. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 1(i), Article VIII, Texas Constitution, |
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is amended to read as follows: |
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(i) Notwithstanding Subsections (a) and (b) of this |
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section, the Legislature by general law may limit the maximum |
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appraised value of a residence homestead for ad valorem tax |
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purposes in a tax year to the lesser of the most recent market value |
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of the residence homestead as determined by the appraisal entity or |
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110 percent, or a greater percentage, of the appraised value of the |
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residence homestead for the preceding tax year. A limitation on |
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appraised values authorized by this subsection: |
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(1) takes effect as to a residence homestead on the |
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later of the effective date of the law imposing the limitation or |
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January 1 of the tax year following the first tax year the owner |
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qualifies the property for an exemption under Section 1-b of this |
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article; and |
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(2) expires on January 1 of the first tax year that |
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none of the following individuals qualify for an exemption under |
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Section 1-b of this article with respect to the property: |
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(A) [neither] the owner of the property when the |
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limitation took effect; |
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(B) [nor] the owner's spouse or surviving spouse; |
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or |
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(C) the first heir of an individual described by |
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Paragraph (A) or (B) of this subdivision to acquire the property |
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[qualifies for an exemption under Section 1-b of this article]. |
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SECTION 2. 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 authorize the |
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legislature to provide for the continuation of a limitation on the |
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maximum appraised value of a residence homestead for ad valorem tax |
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purposes if the property is acquired by and qualifies as the |
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homestead of an heir of the owner or the owner's spouse or surviving |
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spouse." |