TX
Texas House Bill HJR145

Texas 2021 - 87th Regular

Texas House Bill HJR145

Caption

Proposing a constitutional amendment to authorize the legislature to limit the appraised value of real property for ad valorem tax purposes to the value when the owner acquired the property and to provide for determining that value on the basis of the purchase price of the property, if applicable.

Impact

If passed, HJR145 would modify Article VIII, Section 1 of the Texas Constitution, specifically regarding the assessment of property taxes. The amendment would authorize the legislature to create laws that determine the maximum taxable value of properties based on their acquisition price, rather than the higher market value that can occur after a property has been sold. This approach could positively impact homeowners, particularly those who fear rising property taxes due to inflated market values, making it easier for them to plan their finances in relation to property taxes.

Summary

House Joint Resolution 145 (HJR145) proposes a constitutional amendment to allow the Texas Legislature to limit the appraised value of real property for ad valorem tax purposes. The resolution stipulates that the appraised value may be set to the value at the time of purchase when a property owner acquired it. This change aims to provide a more predictable and potentially lower ad valorem tax burden for property owners by anchoring property taxes to historic purchase prices rather than fluctuating market values.

Contention

Notable points of contention surrounding HJR145 may arise from concerns about its impact on local government revenues. By potentially lowering property tax assessments, municipalities and counties could see a decrease in their tax bases, raising questions about how essential public services will be funded. Critics may argue that while the bill benefits homeowners, it could hinder local governments' abilities to adequately provide services funded by property taxes. Supporters, however, believe that stabilizing property taxes based on purchase price will ultimately benefit residents and make housing more affordable.

Companion Bills

TX HB4024

Enabled by Relating to a limitation on the appraised value of real property for ad valorem tax purposes.

Previously Filed As

TX SJR55

Proposing a constitutional amendment authorizing the legislature to provide that the appraised value of a residence homestead for ad valorem tax purposes is the market value of the property for the first year that the owner qualified the property for a homestead exemption or, if the owner purchased the property, the purchase price of the property.

TX HJR14

Proposing a constitutional amendment authorizing the legislature to provide that the appraised value of a residence homestead for ad valorem tax purposes for the first tax year that the owner of the property qualifies the property for a residence homestead exemption is the market value of the property and that, if the owner purchased the property, the purchase price of the property is considered to be the market value of the property for that tax year and to limit increases in the appraised value of the homestead for subsequent tax years based on the inflation rate.

TX HJR7

Proposing a constitutional amendment to authorize the legislature to limit the maximum appraised value of real property for ad valorem tax purposes to 105 percent or more of the appraised value of the property for the preceding tax year.

TX HJR10

Proposing a constitutional amendment to authorize the legislature to limit the maximum appraised value of real property for ad valorem tax purposes to 103.5 percent or more of the appraised value of the property for the preceding tax year.

TX HJR18

Proposing a constitutional amendment to authorize the legislature to limit the maximum appraised value of real property for ad valorem tax purposes.

TX HJR74

Proposing a constitutional amendment to authorize the legislature to limit the maximum appraised value of real property for ad valorem tax purposes.

TX HJR72

Proposing a constitutional amendment to authorize the legislature to limit the maximum appraised value of real property for ad valorem tax purposes.

TX HJR71

Proposing a constitutional amendment to authorize the legislature to provide for limitations on the appraised value of certain real property in specified areas for ad valorem tax purposes.

TX SJR19

Proposing a constitutional amendment to authorize the legislature to establish a limit on the maximum appraised value of real property other than a residence homestead for ad valorem tax purposes.

TX SJR53

Proposing a constitutional amendment to authorize the legislature to establish a limit on the maximum appraised value of real property other than a residence homestead for ad valorem tax purposes.

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HI HB1398

Relating To Property.