Proposing a constitutional amendment imposing a state property tax for public education, authorizing the legislature to establish for purposes of that tax a limit on the maximum appraised value of a residence homestead of 105 percent of the appraised value of the property for the preceding tax year, prohibiting school district property taxes for maintenance purposes, and authorizing school district property taxes for educational enrichment.
Impact
If enacted, SJR58 would amend key sections of the Texas Constitution regarding property taxation and school funding. The bill intends to phase in the newly imposed state property tax over five years. This tax is expected to generate considerable revenue for public education, potentially reducing the reliance on local maintenance taxes while providing schools with a more predictable funding stream. The provision establishing a residential homestead appraisal cap aims to protect homeowners from steep tax increases, making the funding system more equitable for Texas residents.
Summary
SJR58 proposes a constitutional amendment to impose a state property tax directed toward public education funding in Texas. Specifically, it authorizes the legislature to set a maximum appraised value for residential homesteads at 105 percent of the previous year's value. This is aimed at stabilizing funding for public education amidst rising property values. The bill also prohibits school district property taxes for maintenance, instead allowing them exclusively for educational enrichment purposes. This approach seeks to streamline educational funding at the state level while ensuring adequate resources for local schools.
Sentiment
The sentiment surrounding SJR58 appears broadly supportive among those focused on educational funding, particularly advocates for public schools who see this measure as a means to enhance educational quality and resources. However, there are concerns among some taxpayers about the implications of a state-controlled property tax. The mixed sentiment reflects a balance between the necessity for improved funding in public education and the apprehension regarding increased tax liabilities for homeowners.
Contention
Key points of contention regarding SJR58 revolve around the implications of imposing a state property tax and the changes it enacts to the existing school funding structure. Critics argue that centralizing education funding could undermine local control over educational priorities and financial decisions, potentially leading to disparities in educational quality across different areas. Additionally, there is debate over whether limiting school district property taxes for maintenance will adequately support the operational needs of local schools. Proponents insist that this approach will ultimately lead to better-funded educational programs without overburdening local districts.
Enabled by
Relating to public school finance matters, including the imposition of a state ad valorem tax for elementary and secondary school purposes and a school district ad valorem enrichment tax.
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 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 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 authorizing the legislature to provide that the appraised value of a residence homestead for ad valorem tax purposes is the market value of the property for the first year that the owner qualified the property for a homestead exemption or, if the owner purchased the property, the purchase price of the property.
Proposing a constitutional amendment authorizing the legislature to provide that the appraised value of a residence homestead for ad valorem tax purposes for the first tax year that the owner of the property qualifies the property for a residence homestead exemption is the market value of the property and that, if the owner purchased the property, the purchase price of the property is considered to be the market value of the property for that tax year and to limit increases in the appraised value of the homestead for subsequent tax years based on the inflation rate.
Proposing a constitutional amendment imposing a state property tax for public education, authorizing the legislature to establish for purposes of that tax a limit on the maximum appraised value of a residence homestead of 105 percent of the appraised value of the property for the preceding tax year, prohibiting school district property taxes for maintenance purposes, and authorizing school district property taxes for educational enrichment.
Proposes amendment to Constitution to change minimum and maximum local tax levy requirements for funding of public schools and minimum and maximum State support for special education.
Proposes amendment to Constitution to change minimum and maximum local tax levy requirements for funding of public schools and minimum and maximum State support for special education.
Relating to providing property tax relief through the public school finance system, exemptions, limitations on appraisals and taxes, and property tax administration; authorizing the imposition of a fee.
Relating to providing property tax relief through the public school finance system, exemptions, limitations on appraisals and taxes, and property tax administration.
Relating to providing property tax relief through the public school finance system, exemptions, limitations on appraisals and taxes, and property tax administration; authorizing the imposition of a fee.