87R3592 RDS-D
By: Bell of Montgomery H.J.R. No. 61
A JOINT RESOLUTION
proposing a constitutional amendment to authorize the legislature
to limit the maximum appraised value of real property for ad valorem
tax purposes.
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 1(i), Article VIII, Texas Constitution,
is amended to read as follows:
(i) Notwithstanding Subsections (a) and (b) of this
section, the Legislature by general law may limit the maximum
appraised value of real property [a residence homestead] for ad
valorem tax purposes in a tax year to the lesser of the most recent
market value of the real property [residence homestead] as
determined by the appraisal entity or 105 [110] percent, or a
greater percentage, of the appraised value of the real property
[residence homestead] for the preceding tax year. A limitation on
appraised values authorized by this subsection:
(1) takes effect in the tax year following the first
tax year in which the owner owns the property on January 1 or, if the
property qualifies for an exemption as the [to a] residence
homestead of the owner under Section 1-b of this article in the tax
year in which the owner acquires the property, in [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
acquires [qualifies] the property [for an exemption under Section
1-b of this article]; and
(2) expires on January 1 of the [first] tax year
following the tax year in which [that neither] the owner of the
property when the limitation took effect ceases to own the
property, except that the Legislature by general law may provide
for the limitation applicable to a residence homestead to continue
during ownership of the property by [nor] the owner's spouse or
surviving spouse [qualifies for an exemption under Section 1-b of
this article].
SECTION 2. This proposed constitutional amendment shall be
submitted to the voters at an election to be held November 2, 2021.
The ballot shall be printed to permit voting for or against the
proposition: "The 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."