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