| 1 | 1 | | 87R3592 RDS-D |
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| 2 | 2 | | By: Bell of Montgomery H.J.R. No. 61 |
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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 to authorize the legislature |
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| 7 | 7 | | to limit the maximum appraised value of real property for ad valorem |
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| 8 | 8 | | tax purposes. |
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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(i), Article VIII, Texas Constitution, |
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| 11 | 11 | | is amended to read as follows: |
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| 12 | 12 | | (i) Notwithstanding Subsections (a) and (b) of this |
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| 13 | 13 | | section, the Legislature by general law may limit the maximum |
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| 14 | 14 | | appraised value of real property [a residence homestead] for ad |
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| 15 | 15 | | valorem tax purposes in a tax year to the lesser of the most recent |
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| 16 | 16 | | market value of the real property [residence homestead] as |
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| 17 | 17 | | determined by the appraisal entity or 105 [110] percent, or a |
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| 18 | 18 | | greater percentage, of the appraised value of the real property |
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| 19 | 19 | | [residence homestead] for the preceding tax year. A limitation on |
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| 20 | 20 | | appraised values authorized by this subsection: |
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| 21 | 21 | | (1) takes effect in the tax year following the first |
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| 22 | 22 | | tax year in which the owner owns the property on January 1 or, if the |
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| 23 | 23 | | property qualifies for an exemption as the [to a] residence |
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| 24 | 24 | | homestead of the owner under Section 1-b of this article in the tax |
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| 25 | 25 | | year in which the owner acquires the property, in [on the later of |
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| 26 | 26 | | the effective date of the law imposing the limitation or January 1 |
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| 27 | 27 | | of] the tax year following the [first] tax year in which the owner |
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| 28 | 28 | | acquires [qualifies] the property [for an exemption under Section |
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| 29 | 29 | | 1-b of this article]; and |
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| 30 | 30 | | (2) expires on January 1 of the [first] tax year |
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| 31 | 31 | | following the tax year in which [that neither] the owner of the |
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| 32 | 32 | | property when the limitation took effect ceases to own the |
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| 33 | 33 | | property, except that the Legislature by general law may provide |
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| 34 | 34 | | for the limitation applicable to a residence homestead to continue |
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| 35 | 35 | | during ownership of the property by [nor] the owner's spouse or |
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| 36 | 36 | | surviving spouse [qualifies for an exemption under Section 1-b of |
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| 37 | 37 | | this article]. |
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| 38 | 38 | | SECTION 2. This proposed constitutional amendment shall be |
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| 39 | 39 | | submitted to the voters at an election to be held November 2, 2021. |
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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 to authorize the |
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| 42 | 42 | | legislature to limit the maximum appraised value of real property |
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| 43 | 43 | | for ad valorem tax purposes to 105 percent or more of the appraised |
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| 44 | 44 | | value of the property for the preceding tax year." |
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