LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION March 5, 2009 TO: Honorable Rene Oliveira, Chair, House Committee on Ways & Means FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:HJR36 by Otto (Proposing a constitutional amendment authorizing the legislature to provide for the ad valorem taxation of a residence homestead solely on the basis of the property's value as a residence homestead; and authorizing the legislature to authorize a single board of equalization for two or more adjoining appraisal entities that elect to provide for consolidated equalizations.), As Introduced No fiscal implication to the State is anticipated, other than the cost of publication. The cost to the state for publication of the resolution is $90,882. The resolution would propose a constitutional amendment to Article VIII of the Texas Constitution to authorize the Legislature to provide for the ad valorem taxation of a residence homestead solely on the basis of the property's value as a residence homestead, regardless of whether the residential use of the property is the highest and best use. Although this resolution would not make a direct change to ad valorem tax collections, it would establish a constitutional basis for legislation. The proposed amendment could also authorize the Legislature to allow for a single board of equalization for two or more adjoining appraisal entities that elect to provide for consolidated equalizations. The proposed amendment would be submitted to voters at an election to be held November 3, 2009. Local Government Impact No fiscal implication to units of local government is anticipated. Source Agencies:304 Comptroller of Public Accounts LBB Staff: JOB, MN, SD, SJS
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION
March 5, 2009
TO: Honorable Rene Oliveira, Chair, House Committee on Ways & Means FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:HJR36 by Otto (Proposing a constitutional amendment authorizing the legislature to provide for the ad valorem taxation of a residence homestead solely on the basis of the property's value as a residence homestead; and authorizing the legislature to authorize a single board of equalization for two or more adjoining appraisal entities that elect to provide for consolidated equalizations.), As Introduced
TO: Honorable Rene Oliveira, Chair, House Committee on Ways & Means
FROM: John S. O'Brien, Director, Legislative Budget Board
IN RE: HJR36 by Otto (Proposing a constitutional amendment authorizing the legislature to provide for the ad valorem taxation of a residence homestead solely on the basis of the property's value as a residence homestead; and authorizing the legislature to authorize a single board of equalization for two or more adjoining appraisal entities that elect to provide for consolidated equalizations.), As Introduced
Honorable Rene Oliveira, Chair, House Committee on Ways & Means
Honorable Rene Oliveira, Chair, House Committee on Ways & Means
John S. O'Brien, Director, Legislative Budget Board
John S. O'Brien, Director, Legislative Budget Board
HJR36 by Otto (Proposing a constitutional amendment authorizing the legislature to provide for the ad valorem taxation of a residence homestead solely on the basis of the property's value as a residence homestead; and authorizing the legislature to authorize a single board of equalization for two or more adjoining appraisal entities that elect to provide for consolidated equalizations.), As Introduced
HJR36 by Otto (Proposing a constitutional amendment authorizing the legislature to provide for the ad valorem taxation of a residence homestead solely on the basis of the property's value as a residence homestead; and authorizing the legislature to authorize a single board of equalization for two or more adjoining appraisal entities that elect to provide for consolidated equalizations.), As Introduced
No fiscal implication to the State is anticipated, other than the cost of publication. The cost to the state for publication of the resolution is $90,882.
No fiscal implication to the State is anticipated, other than the cost of publication. The cost to the state for publication of the resolution is $90,882.
The cost to the state for publication of the resolution is $90,882.
The resolution would propose a constitutional amendment to Article VIII of the Texas Constitution to authorize the Legislature to provide for the ad valorem taxation of a residence homestead solely on the basis of the property's value as a residence homestead, regardless of whether the residential use of the property is the highest and best use. Although this resolution would not make a direct change to ad valorem tax collections, it would establish a constitutional basis for legislation. The proposed amendment could also authorize the Legislature to allow for a single board of equalization for two or more adjoining appraisal entities that elect to provide for consolidated equalizations. The proposed amendment would be submitted to voters at an election to be held November 3, 2009.
The resolution would propose a constitutional amendment to Article VIII of the Texas Constitution to authorize the Legislature to provide for the ad valorem taxation of a residence homestead solely on the basis of the property's value as a residence homestead, regardless of whether the residential use of the property is the highest and best use. Although this resolution would not make a direct change to ad valorem tax collections, it would establish a constitutional basis for legislation.
The proposed amendment could also authorize the Legislature to allow for a single board of equalization for two or more adjoining appraisal entities that elect to provide for consolidated equalizations.
The proposed amendment would be submitted to voters at an election to be held November 3, 2009.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies: 304 Comptroller of Public Accounts
304 Comptroller of Public Accounts
LBB Staff: JOB, MN, SD, SJS
JOB, MN, SD, SJS