85S10082 SMH/TJB-D
By: Bonnen of Brazoria H.J.R. No. 35
A JOINT RESOLUTION
proposing a constitutional amendment to authorize the legislature
to limit increases in the appraised value of commercial or
industrial real property for ad valorem tax purposes.
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 a parcel of commercial or industrial real
property, as defined by the Legislature, 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 120
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 property qualifies as commercial or industrial
real property; 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 the property ceases to qualify as commercial or
industrial real property.
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 limit increases in the appraised value of commercial
or industrial real property for ad valorem tax purposes to 20
percent or more of the appraised value of the property for the
preceding tax year."