| 1 | 1 | | 85R5203 TJB-D |
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| 2 | 2 | | By: Creighton S.J.R. No. 28 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A JOINT RESOLUTION |
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| 6 | 6 | | proposing a constitutional amendment to authorize the legislature |
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| 7 | 7 | | to set a lower limit and provide for more than one limit on the |
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| 8 | 8 | | maximum appraised value of a residence homestead for ad valorem |
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| 9 | 9 | | taxation. |
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| 10 | 10 | | BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 11 | 11 | | SECTION 1. Section 1(i), Article VIII, Texas Constitution, |
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| 12 | 12 | | is amended to read as follows: |
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| 13 | 13 | | (i) Notwithstanding Subsections (a) and (b) of this |
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| 14 | 14 | | section, the Legislature by general law may limit the maximum |
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| 15 | 15 | | appraised value of a residence homestead for ad valorem tax |
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| 16 | 16 | | purposes in a tax year to the lesser of the most recent market value |
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| 17 | 17 | | of the residence homestead as determined by the appraisal entity or |
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| 18 | 18 | | 103 [110] percent, or a greater percentage, of the appraised value |
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| 19 | 19 | | of the residence homestead for the preceding tax year. Subject to |
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| 20 | 20 | | the limitations imposed by this subsection, the Legislature by |
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| 21 | 21 | | general law may provide for one percentage to be used when |
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| 22 | 22 | | calculating the limitation on the maximum appraised value of a |
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| 23 | 23 | | residence homestead with a lesser appraised value and another |
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| 24 | 24 | | percentage to be used when calculating that limitation on a |
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| 25 | 25 | | residence homestead with a greater appraised value. A limitation |
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| 26 | 26 | | on appraised values authorized by this subsection: |
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| 27 | 27 | | (1) takes effect as to a residence homestead on the |
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| 28 | 28 | | later of the effective date of the law imposing the limitation or |
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| 29 | 29 | | January 1 of the tax year following the first tax year the owner |
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| 30 | 30 | | qualifies the property for an exemption under Section 1-b of this |
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| 31 | 31 | | article; and |
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| 32 | 32 | | (2) expires on January 1 of the first tax year that |
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| 33 | 33 | | neither the owner of the property when the limitation took effect |
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| 34 | 34 | | nor the owner's spouse or surviving spouse qualifies for an |
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| 35 | 35 | | exemption under Section 1-b of this article. |
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| 36 | 36 | | SECTION 2. This proposed constitutional amendment shall be |
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| 37 | 37 | | submitted to the voters at an election to be held November 7, 2017. |
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| 38 | 38 | | The ballot shall be printed to permit voting for or against the |
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| 39 | 39 | | proposition: "The constitutional amendment to authorize the |
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| 40 | 40 | | legislature to set a lower limit and provide for more than one limit |
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| 41 | 41 | | on the maximum appraised value of a residence homestead for ad |
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| 42 | 42 | | valorem taxation." |
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