83R2266 SMH-D
By: Patrick S.J.R. No. 14
A JOINT RESOLUTION
proposing a constitutional amendment to authorize the legislature
to limit the maximum appraised value of commercial or industrial
real property for ad valorem tax purposes to 110 percent or more of
the appraised value of the property for the preceding tax year.
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 1, Article VIII, Texas Constitution, is
amended by adding Subsection (k) to read as follows:
(k) Notwithstanding Subsections (a) and (b) of this
section, the Legislature by general law may limit the maximum
appraised value of commercial or industrial real property for ad
valorem tax purposes in a tax year to the lesser of the most recent
market value of the property as determined by the appraisal entity
or 110 percent, or a greater percentage, of the appraised value of
the property for the preceding tax year. A limitation on appraised
values authorized by this subsection:
(1) takes effect as to a parcel of commercial or
industrial real property on the later of the effective date of the
law imposing the limitation or January 1 of the tax year following
the first tax year in which the owner owns the property on January 1
and in which the owner uses the property primarily for commercial or
industrial purposes; and
(2) expires on January 1 of the tax year following the
first tax year in which the owner of the property ceases to own the
property or ceases to use the property primarily for commercial or
industrial purposes.
SECTION 2. This proposed constitutional amendment shall be
submitted to the voters at an election to be held November 5, 2013.
The ballot shall be printed to permit voting for or against the
proposition: "The constitutional amendment to authorize the
legislature to limit the maximum appraised value of commercial or
industrial real property for ad valorem tax purposes to 110 percent
or more of the appraised value of the property for the preceding tax
year."