Proposing a constitutional amendment authorizing the legislature to provide for a local option election in a county to set a limit on the maximum appraised value of a residence homestead for ad valorem tax purposes of less than 110 percent but not less than 103 percent of the appraised value of the property for the preceding tax year.
Impact
The introduction of HJR15 could lead to substantial changes in local property tax regulations, offering substantial relief to homeowners struggling with rising appraised values. If adopted, this change could allow voters in each county to directly influence tax regulations affecting their communities. By providing local jurisdictions the authority to set these limits, the bill aims to promote stability in property tax assessments, thus benefiting residents concerned about affordability and taxation pressures.
Summary
HJR15 is a joint resolution proposing a constitutional amendment that allows the Texas legislature to authorize local option elections at the county level. This legislation empowers counties to set a limit on the maximum appraised value of a residence homestead for ad valorem tax purposes. Specifically, it enables counties to determine a cap of less than 110 percent but more than 103 percent of the property’s appraised value from the previous tax year. This flexibility may benefit homeowners by preventing significant spikes in property taxes related to rising property values.
Contention
While the bill promises benefits for homeowners, it is likely to evoke discussions regarding potential drawbacks such as diminished revenue for local governments. Opponents may argue that a cap on appraised values could limit funding for essential services like education and public safety, which often rely on property tax revenues. The local option could also lead to inconsistencies in tax regulations across counties, potentially resulting in inequalities among residents depending on their county’s decisions regarding tax limitations.
Enabled by
Relating to a local option election in a county to set a limit on the maximum appraised value of a residence homestead for ad valorem tax purposes of less than 110 percent but not less than 103 percent of the appraised value of the property for the preceding tax year.
Proposing a constitutional amendment to authorize the legislature to limit the maximum appraised value of real property for ad valorem tax purposes to 103.5 percent or more of the appraised value of the property for the preceding tax year.
Proposing a constitutional amendment to authorize the legislature to limit the maximum appraised value of real property for ad valorem tax purposes to 105 percent or more of the appraised value of the property for the preceding tax year.
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.
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.
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 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.
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 taxation.