85R5203 TJB-D
By: Creighton S.J.R. No. 28
A JOINT RESOLUTION
proposing a constitutional amendment to authorize the legislature
to set a lower limit and provide for more than one limit on the
maximum appraised value of a residence homestead for ad valorem
taxation.
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 1(i), Article VIII, Texas Constitution,
is amended to read as follows:
(i) Notwithstanding Subsections (a) and (b) of this
section, the Legislature by general law may limit the maximum
appraised value of a residence homestead for ad valorem tax
purposes in a tax year to the lesser of the most recent market value
of the residence homestead as determined by the appraisal entity or
103 [110] percent, or a greater percentage, of the appraised value
of the residence homestead for the preceding tax year. Subject to
the limitations imposed by this subsection, the Legislature by
general law may provide for one percentage to be used when
calculating the limitation on the maximum appraised value of a
residence homestead with a lesser appraised value and another
percentage to be used when calculating that limitation on a
residence homestead with a greater appraised value. A limitation
on appraised values authorized by this subsection:
(1) takes effect as to a residence homestead 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 the owner
qualifies the property for an exemption under Section 1-b of this
article; and
(2) expires on January 1 of the first tax year that
neither the owner of the property when the limitation took effect
nor the owner's spouse or surviving spouse qualifies for an
exemption under Section 1-b of this article.
SECTION 2. This proposed constitutional amendment shall be
submitted to the voters at an election to be held November 7, 2017.
The ballot shall be printed to permit voting for or against the
proposition: "The constitutional amendment to authorize the
legislature to set a lower limit and provide for more than one limit
on the maximum appraised value of a residence homestead for ad
valorem taxation."