Proposing a constitutional amendment to authorize the legislature to limit the maximum appraised value of a residence homestead for ad valorem tax purposes to 105 percent or more of the appraised value of the property for the preceding tax year.
If passed, this amendment would effectively modify Article VIII of the Texas Constitution. It would empower the legislature to impose greater control over property tax assessments related to homesteads, which may help constituents—especially those on fixed incomes—by preventing sudden spikes in property taxes due to market fluctuations. This measure also aims to add a layer of predictability for homeowners worried about the constant increases in property taxes.
HJR42 proposes a constitutional amendment that allows the Texas Legislature to limit the maximum appraised value of residence homesteads for ad valorem tax purposes. Specifically, it seeks to set this limit at 105 percent or more of the appraised value from the preceding tax year. This legislative initiative aims to provide financial relief for homeowners by potentially stabilizing their property tax bills, which can fluctuate significantly due to rising market values.
The proposal could stir debate surrounding its impact on state revenue and the funding for public services that rely heavily on property taxes. Proponents argue that the measure is essential for protecting homeowners, particularly in areas where property values have surged. Conversely, some legislators may express concerns that limiting the assessed value for tax purposes could restrict necessary funding for schools, infrastructure, and local services, leading to broader implications for community development and public welfare.