TX
Texas House Bill HJR19

Texas 2021 - 87th 3rd C.S.

Texas House Bill HJR19

Caption

Proposing a constitutional amendment authorizing the legislature to limit the maximum appraised value of residential real property for ad valorem tax purposes to 105 percent or more of the appraised value of the property for the preceding tax year, to exempt from ad valorem taxation the total appraised value of property purchased by an individual for the first tax year the individual qualifies the property as the individual's residence homestead if the property is the individual's first residence homestead and has an appraised value of less than $300,000, and to limit the total amount of ad valorem taxes that a political subdivision may impose on the residence homestead of an individual and the surviving spouse of the individual if the individual qualifies the property as the individual's residence homestead for at least 25 consecutive tax years.

Impact

If enacted, HJR19 would significantly modify the existing tax structure regarding residential properties in Texas. By limiting the maximum appraised value under which a property can be taxed, homeowners may experience greater stability in their property taxes over time, safeguarding against sharp increases in taxation due to rising property values. Furthermore, the tax exemption for first-time homebuyers with properties under $300,000 could promote homeownership among younger residents and lower-income families, making it easier for them to enter the housing market. The provision for longtime homeowners to retain stable tax levels after 25 years could ensure financial security for these residents, making it a particularly appealing amendment for those who fear taxation increases as property values rise.

Summary

HJR19 proposes a constitutional amendment that would allow the Texas legislature to implement limitations on the maximum appraised value of residential real property for ad valorem tax purposes. The amendment specifies that this maximum value can be set to 105% or more of the appraised value from the preceding tax year. Additionally, it aims to introduce a complete exemption from ad valorem taxation for individuals who purchase a property and qualify it as their residence homestead, provided that this is the first residence homestead they have qualified for and it has an appraised value of less than $300,000 in the first tax year designated as a homestead. Lastly, the bill includes provisions to prevent political subdivisions from increasing the total amount of ad valorem taxes imposed on residences that have been designated as homesteads for at least 25 consecutive years, benefiting both the homeowners and their surviving spouses.

Contention

Despite the perceived benefits, HJR19 could spark contention regarding its fiscal implications. Detractors might voice concerns that limiting property tax appraisals could restrict funding for essential local services such as education and public safety, which are often financed through property taxes. Furthermore, while the provisions appear favorable towards homeowners, there may be unintended consequences for certain communities, particularly those that rely heavily on property tax revenue. Critics might argue that these changes could lead to a reduced budget for local governments and school districts, necessitating adjustments in other areas of funding or service delivery. The overall implications of HJR19 would require careful consideration of the balance between assisting homeowners and ensuring adequate funding for community services.

Companion Bills

TX HB132

Enabled by Relating to the ad valorem taxation of residential real property.

Previously Filed As

TX HJR87

Proposing a constitutional amendment authorizing the legislature to limit the maximum appraised value of residential real property for ad valorem tax purposes to 105 percent or more of the appraised value of the property for the preceding tax year, to exempt from ad valorem taxation the total appraised value of property purchased by an individual for the first tax year the individual qualifies the property as the individual's residence homestead if the property is the individual's first residence homestead and has an appraised value of less than $300,000, and to limit the total amount of ad valorem taxes that a political subdivision may impose on the residence homestead of an individual and the surviving spouse of the individual if the individual qualifies the property as the individual's residence homestead for at least 25 consecutive tax years.

TX HB2666

Relating to the limitation on the total amount of ad valorem taxes that a school district may impose on the residence homestead of an individual and the surviving spouse of the individual if the individual qualifies the property as the individual's residence homestead for at least 20 consecutive tax years.

TX HJR120

Proposing a constitutional amendment authorizing the legislature to limit the total amount of ad valorem taxes that a school district may impose on the residence homestead of an individual and the surviving spouse of the individual if the individual qualifies the property as the individual's residence homestead for at least 20 consecutive tax years.

TX HJR19

Proposing a constitutional amendment authorizing the legislature to limit the total amount of ad valorem taxes that a school district may impose on the residence homestead of an individual and the surviving spouse of the individual if the individual qualifies the property as the individual's residence homestead for 15 consecutive tax years and the school taxes on the property increase by at least 120 percent during that period.

TX HJR14

Proposing a constitutional amendment authorizing the legislature to provide that the appraised value of a residence homestead for ad valorem tax purposes for the first tax year that the owner of the property qualifies the property for a residence homestead exemption is the market value of the property and that, if the owner purchased the property, the purchase price of the property is considered to be the market value of the property for that tax year and to limit increases in the appraised value of the homestead for subsequent tax years based on the inflation rate.

TX SJR55

Proposing a constitutional amendment authorizing the legislature to provide that the appraised value of a residence homestead for ad valorem tax purposes is the market value of the property for the first year that the owner qualified the property for a homestead exemption or, if the owner purchased the property, the purchase price of the property.

TX HJR147

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.

TX HB794

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.

TX HB32

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.

TX HB4261

Relating to a limitation on increases in the appraised value for ad valorem tax purposes of the residence homesteads of military veterans, individuals who are disabled or 65 years of age or older, and their surviving spouses.

Similar Bills

TX HJR87

Proposing a constitutional amendment authorizing the legislature to limit the maximum appraised value of residential real property for ad valorem tax purposes to 105 percent or more of the appraised value of the property for the preceding tax year, to exempt from ad valorem taxation the total appraised value of property purchased by an individual for the first tax year the individual qualifies the property as the individual's residence homestead if the property is the individual's first residence homestead and has an appraised value of less than $300,000, and to limit the total amount of ad valorem taxes that a political subdivision may impose on the residence homestead of an individual and the surviving spouse of the individual if the individual qualifies the property as the individual's residence homestead for at least 25 consecutive tax years.

TX HJR20

Proposing a constitutional amendment authorizing the legislature to limit the maximum appraised value of residential real property for ad valorem tax purposes to 105 percent or more of the appraised value of the property for the preceding tax year, to exempt from ad valorem taxation the total appraised value of property purchased by an individual for the first tax year the individual qualifies the property as the individual's residence homestead if the property is the individual's first residence homestead and has an appraised value of less than $300,000, and to limit the total amount of ad valorem taxes that a political subdivision may impose on the residence homestead of an individual and the surviving spouse of the individual if the individual qualifies the property as the individual's residence homestead for at least 25 consecutive tax years.

NJ A5089

Prohibits homestead property tax rebates and credits and ANCHOR property tax benefits from being paid to property owners who move out of State.

ME LD1541

An Act to Provide Property Tax Relief for Senior Residents

IN SB0006

Property tax deferral program.

IN SB0325

Homestead standard deduction.

TX HJR120

Proposing a constitutional amendment authorizing the legislature to limit the total amount of ad valorem taxes that a school district may impose on the residence homestead of an individual and the surviving spouse of the individual if the individual qualifies the property as the individual's residence homestead for at least 20 consecutive tax years.

TX HB26

Relating to a freeze on the total amount of ad valorem taxes that may be imposed by a taxing unit on the residence homestead of an eligible person who is a member of a reserve component of the United States armed forces and is ordered to active military duty.