| |
| |
|
|
A JOINT RESOLUTION
|
|
|
proposing a constitutional amendment authorizing the legislature |
|
|
to limit the maximum appraised value of a residence homestead for ad |
|
|
valorem tax purposes to the lesser of the most recent market value |
|
|
of the residence homestead or 115 percent, or a greater percentage, |
|
|
of the appraised value of the residence homestead for the last year |
|
|
in which the residence homestead was appraised for ad valorem tax |
|
|
purposes, to limit the frequency of the reappraisal of a residence |
|
|
homestead for those purposes, and to permit the voters of a county |
|
|
to establish a higher limitation on the maximum appraised value of a |
|
|
residence homestead for those purposes. |
|
|
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Section 1, Article VIII, Texas Constitution, is |
|
|
amended by amending Subsection (i) and adding Subsections (k) and |
|
|
(l) to read as follows: |
|
|
(i) Notwithstanding Subsections (a) and (b) of this |
|
|
section, the Legislature by general law may limit the maximum |
|
|
appraised value of a residence homestead for ad valorem tax |
|
|
purposes in a tax year to the lesser of the most recent market value |
|
|
of the residence homestead as determined by the appraisal entity or |
|
|
115 [110] percent, or a greater percentage, of the appraised value |
|
|
of the residence homestead for the last [preceding tax] year in |
|
|
which the property was appraised for ad valorem tax purposes. A |
|
|
limitation on appraised values authorized by this subsection: |
|
|
(1) takes effect as to a residence homestead 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 the owner |
|
|
qualifies the property for an exemption under Section 1-b of this |
|
|
article; and |
|
|
(2) expires on January 1 of the first tax year that |
|
|
neither the owner of the property when the limitation took effect |
|
|
nor the owner's spouse or surviving spouse qualifies for an |
|
|
exemption under Section 1-b of this article. |
|
|
(k) Notwithstanding Subsections (a) and (b) of this |
|
|
section, the Legislature by general law may limit the frequency |
|
|
with which a residence homestead may be reappraised for ad valorem |
|
|
tax purposes. |
|
|
(l) Notwithstanding Subsections (a) and (b) of this |
|
|
section, if the Legislature establishes a limitation on the maximum |
|
|
appraised value of a residence homestead as authorized by |
|
|
Subsection (i) of this section, the commissioners court of a county |
|
|
may call an election in the county to permit the voters of the |
|
|
county to determine by majority vote whether to establish for |
|
|
purposes of ad valorem taxation by each political subdivision in |
|
|
the county a percentage limitation on the maximum appraised value |
|
|
of a residence homestead in the county that is greater than the |
|
|
percentage established by the Legislature under Subsection (i) of |
|
|
this section. The ballot proposition shall specify the proposed |
|
|
percentage limitation on maximum appraised value. A limitation on |
|
|
maximum appraised value established under this subsection takes |
|
|
effect as to a residence homestead on the later of January 1 of the |
|
|
tax year following the year in which the election is held or January |
|
|
1 of the tax year following the first tax year the owner qualifies |
|
|
the property for an exemption under Section 1-b of this article. As |
|
|
to a residence homestead, the limitation expires on January 1 of the |
|
|
first tax year that neither the owner of the property when the |
|
|
limitation took effect nor the owner's spouse or surviving spouse |
|
|
qualifies for an exemption under Section 1-b of this article. If |
|
|
the voters of a county establish a limitation on maximum appraised |
|
|
value under this subsection, the limitation remains in effect until |
|
|
amended or repealed by the voters of the county at a subsequent |
|
|
election called by the commissioners court of the county for that |
|
|
purpose. |
|
|
SECTION 2. This proposed constitutional amendment shall be |
|
|
submitted to the voters at an election to be held November 4, 2025. |
|
|
The ballot shall be printed to provide for voting for or against the |
|
|
proposition: "The constitutional amendment authorizing the |
|
|
legislature to limit the maximum appraised value of a residence |
|
|
homestead for ad valorem tax purposes to the lesser of the most |
|
|
recent market value of the residence homestead or 115 percent, or a |
|
|
greater percentage, of the appraised value of the residence |
|
|
homestead for the last year in which the residence homestead was |
|
|
appraised for ad valorem tax purposes, to limit the frequency of the |
|
|
reappraisal of a residence homestead for those purposes, and to |
|
|
permit the voters of a county to establish a higher limitation on |
|
|
the maximum appraised value of a residence homestead for those |
|
|
purposes." |