LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION May 23, 2009 TO: Honorable Steve Ogden, Chair, Senate Committee on Finance 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; authorizing the legislature to authorize a single board of equalization for two or more adjoining appraisal entities that elect to provide for consolidated equalizations; and authorizing the legislature to provide for the administration and enforcement of uniform standards and procedures for appraisal of property for ad valorem tax purposes.), Committee Report 2nd House, Substituted 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
May 23, 2009
TO: Honorable Steve Ogden, Chair, Senate Committee on Finance 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; authorizing the legislature to authorize a single board of equalization for two or more adjoining appraisal entities that elect to provide for consolidated equalizations; and authorizing the legislature to provide for the administration and enforcement of uniform standards and procedures for appraisal of property for ad valorem tax purposes.), Committee Report 2nd House, Substituted
TO: Honorable Steve Ogden, Chair, Senate Committee on Finance
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; authorizing the legislature to authorize a single board of equalization for two or more adjoining appraisal entities that elect to provide for consolidated equalizations; and authorizing the legislature to provide for the administration and enforcement of uniform standards and procedures for appraisal of property for ad valorem tax purposes.), Committee Report 2nd House, Substituted
Honorable Steve Ogden, Chair, Senate Committee on Finance
Honorable Steve Ogden, Chair, Senate Committee on Finance
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; authorizing the legislature to authorize a single board of equalization for two or more adjoining appraisal entities that elect to provide for consolidated equalizations; and authorizing the legislature to provide for the administration and enforcement of uniform standards and procedures for appraisal of property for ad valorem tax purposes.), Committee Report 2nd House, Substituted
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; authorizing the legislature to authorize a single board of equalization for two or more adjoining appraisal entities that elect to provide for consolidated equalizations; and authorizing the legislature to provide for the administration and enforcement of uniform standards and procedures for appraisal of property for ad valorem tax purposes.), Committee Report 2nd House, Substituted
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