Proposing a constitutional amendment to authorize the legislature to set lower limits on the maximum appraised value of residence homesteads and of real property other than a residence homestead for ad valorem tax purposes and to make permanent the limit on the maximum appraised value of real property other than a residence homestead.
Impact
If enacted, HJR56 would amend Article VIII of the Texas Constitution, specifically affecting Sections 1(i) and (n). It would enable the legislature to enact general laws limiting the maximum appraised value of residence homesteads to the lower of the most recent market value or a percentage cap of the appraised value from the previous year. This could lead to more manageable property tax bills for homeowners and can offer protection against drastic increases in property taxes, especially in rapidly appreciating markets. Additionally, the amendment would make permanent certain limits on the maximum appraised value of real property other than residence homesteads.
Summary
HJR56 is a joint resolution proposing a constitutional amendment that seeks to grant the Texas legislature the authority to set lower limits on the maximum appraised value of residence homesteads and other real properties for ad valorem tax purposes. This amendment is aimed at providing fiscal relief to property owners by allowing the legislature to cap the increase in the appraised value of properties, making it less burdensome for homeowners facing rising property taxes. It also aims to ensure a degree of predictability in property tax assessments and may help to stabilize housing costs across the state.
Contention
While proponents of HJR56 argue that it is necessary for protecting homeowners from excessive tax burdens, critics may express concern over the long-term implications for local governments' revenue streams. By shifting control of appraised values to the state level, there is a fear that local authorities may lose the flexibility to adjust tax rates according to their fiscal needs. Furthermore, debates may center around whether such changes adequately address the needs of lower-income families and renters, who may not benefit directly from property tax adjustments. Importantly, the proposed amendment will require voter approval during the election scheduled for November 4, 2025.
Proposing a constitutional amendment to authorize the legislature to establish a lower limit on the maximum appraised value of residence homesteads for ad valorem tax purposes and to establish a limit on the value of single-family residences other than residence homesteads for those purposes.
Proposing a constitutional amendment to authorize the legislature to establish a lower limit on the maximum appraised value of residence homesteads for ad valorem tax purposes and to establish a limit on the value of single-family residences other than residence homesteads for those purposes.
Proposing a constitutional amendment to authorize the legislature to establish a limit on the maximum appraised value of real property other than a residence homestead for ad valorem tax purposes.
Proposing a constitutional amendment to authorize the legislature to establish a limit on the maximum appraised value of real property other than a residence homestead for ad valorem tax purposes.
Relating to limitations on increases in the appraised value for ad valorem tax purposes of residence homesteads and single-family residences other than residence homesteads.
Relating to limitations on increases in the appraised value for ad valorem tax purposes of residence homesteads and single-family residences other than residence homesteads.
Proposing a constitutional amendment to authorize the legislature to set a lower limit on the maximum appraised value of a residence homestead for ad valorem tax purposes.
Proposing a constitutional amendment to authorize the legislature to limit the maximum appraised value of a residence homestead for ad valorem tax purposes to the appraised value of the property when it was first qualified as a residence homestead, plus the value of subsequent improvements.