Proposing a constitutional amendment to authorize the legislature to provide for a local option election in Montgomery County to limit the maximum appraised value of a residence homestead to 103 percent or more of the appraised value of the property for the preceding tax year for purposes of ad valorem taxation by each political subdivision all of the territory of which is located in the county.
Impact
If adopted, this resolution would grant local authority to the commissioners' court of Montgomery County to call an election for this purpose. This would change the existing framework of property tax assessments within the county and establish a new precedent for how local taxes can be managed. The result could lead to significant implications for the funding of local services since property taxes frequently contribute to education, public safety, and infrastructure.
Summary
HJR67 proposes a constitutional amendment allowing for a local option election in Montgomery County regarding the limitation of the maximum appraised value of residential homesteads. Specifically, it seeks to limit this appraisal to no less than 103 percent of the previous year's appraised value. The goal is to provide a method for Montgomery County residents to control rising property taxes through a direct vote that would establish this limit, which could ease financial burdens for homeowners in the area.
Contention
While the bill seems to aim at protecting homeowners from steep appraisal increases, there may be potential contention among local officials and community members regarding the implications of such an amendment. On one hand, supporters view it as a necessary measure to combat over-assessments and maintain affordability in housing. On the other hand, opponents might argue that this limits the ability of local governments to generate revenue or could lead to disparities among communities within the county based on property appraisal practices.
Notable_points
The proposed amendment stipulates that any limitation set by voters would remain effective until they decide to amend or repeal it in a future election. This mechanism emphasizes the importance of local governance and community engagement in matters that directly affect property taxation and might set a precedent for other counties considering similar measures.
Enabled by
Relating to the authorization for a local option election in Montgomery County to limit the maximum appraised value of a residence homestead to 103 percent or more of the appraised value of the property for the preceding tax year for purposes of ad valorem taxation by each political subdivision all of the territory of which is located in the county.
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 set a lower limit on the maximum appraised value of a residence homestead for ad valorem taxation.
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.
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 set a lower limit on the maximum appraised value of a residence homestead for ad valorem taxation.
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.
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.
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.
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.