| 1 | 1 | | 86R840 SMH-F |
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| 2 | 2 | | By: Lucio III H.J.R. No. 52 |
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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 providing for the valuation of |
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| 7 | 7 | | property for ad valorem tax purposes on the basis of its market |
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| 8 | 8 | | value. |
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| 9 | 9 | | BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. Section 1(b), Article VIII, Texas Constitution, |
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| 11 | 11 | | is amended to read as follows: |
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| 12 | 12 | | (b) All real property and tangible personal property in this |
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| 13 | 13 | | State, unless exempt as required or permitted by this Constitution, |
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| 14 | 14 | | whether owned by natural persons or corporations, other than |
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| 15 | 15 | | municipal, shall be taxed in proportion to its market value, which |
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| 16 | 16 | | shall be ascertained as may be provided by law. |
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| 17 | 17 | | SECTION 2. Section 20, Article VIII, Texas Constitution, is |
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| 18 | 18 | | amended to read as follows: |
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| 19 | 19 | | Sec. 20. No property of any kind in this State shall ever be |
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| 20 | 20 | | assessed for ad valorem taxes at a greater value than its [fair |
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| 21 | 21 | | cash] market value nor shall any Board of Equalization of any |
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| 22 | 22 | | governmental or political subdivision or taxing district within |
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| 23 | 23 | | this State fix the value of any property for tax purposes at more |
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| 24 | 24 | | than its [fair cash] market value; provided that in order to |
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| 25 | 25 | | encourage the prompt payment of taxes, the Legislature shall have |
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| 26 | 26 | | the power to provide that the taxpayer shall be allowed by the State |
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| 27 | 27 | | and all governmental and political subdivisions and taxing |
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| 28 | 28 | | districts of the State a three per cent (3%) discount on ad valorem |
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| 29 | 29 | | taxes due the State or due any governmental or political |
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| 30 | 30 | | subdivision or taxing district of the State if such taxes are paid |
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| 31 | 31 | | ninety (90) days before the date when they would otherwise become |
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| 32 | 32 | | delinquent; and the taxpayer shall be allowed a two per cent (2%) |
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| 33 | 33 | | discount on said taxes if paid sixty (60) days before said taxes |
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| 34 | 34 | | would become delinquent; and the taxpayer shall be allowed a one per |
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| 35 | 35 | | cent (1%) discount if said taxes are paid thirty (30) days before |
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| 36 | 36 | | they would otherwise become delinquent. The Legislature shall pass |
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| 37 | 37 | | necessary laws for the proper administration of this Section. |
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| 38 | 38 | | SECTION 3. This proposed constitutional amendment shall be |
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| 39 | 39 | | submitted to the voters at an election to be held November 5, 2019. |
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| 40 | 40 | | The ballot shall be printed to permit voting for or against the |
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| 41 | 41 | | proposition: "The constitutional amendment providing for the |
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| 42 | 42 | | valuation of property for ad valorem tax purposes on the basis of |
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| 43 | 43 | | its market value." |
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