Texas 2023 - 88th Regular

Texas House Bill HJR14 Compare Versions

The same version is selected twice. Please select two different versions to compare.

Version 1 (Old)

Version 2 (New)

Old	New	Differences
1	1	88R362 SMH-D
2	2	By: Toth H.J.R. No. 14
3	3
4	4
5	5	A JOINT RESOLUTION
6	6	proposing a constitutional amendment authorizing the legislature
7	7	to provide that the appraised value of a residence homestead for ad
8	8	valorem tax purposes for the first tax year that the owner of the
9	9	property qualifies the property for a residence homestead exemption
10	10	is the market value of the property and that, if the owner purchased
11	11	the property, the purchase price of the property is considered to be
12	12	the market value of the property for that tax year and to limit
13	13	increases in the appraised value of the homestead for subsequent
14	14	tax years based on the inflation rate.
15	15	BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
16	16	SECTION 1. Section 1, Article VIII, Texas Constitution, is
17	17	amended by amending Subsection (i) and adding Subsections (i-1) and
18	18	(i-2) to read as follows:
19	19	(i) The legislature by general law may provide that the
20	20	appraised value of a residence homestead for ad valorem tax
21	21	purposes for the first tax year that the owner qualifies the
22	22	property for an exemption under Section 1-b of this article is the
23	23	market value of the property and that, if the owner acquired the
24	24	property as a bona fide purchaser for value, the purchase price of
25	25	the property paid by the owner is considered to be the market value
26	26	of the property for that tax year. Notwithstanding Subsections (a)
27	27	and (b) of this section, a general law enacted under this subsection
28	28	may provide that the appraised value of the property for each
29	29	subsequent tax year until the tax year in which the limitation
30	30	authorized by the general law expires is equal to the appraised
31	31	value of the property for ad valorem tax purposes for the preceding
32	32	tax year as adjusted by the appraisal entity for the current tax
33	33	year to reflect any positive change from the preceding tax year in
34	34	the purchasing power of the dollar for consumers in this state
35	35	[Notwithstanding Subsections (a) and (b) of this section, the
36	36	Legislature by general law may limit the maximum appraised value of
37	37	a residence homestead for ad valorem tax purposes in a tax year to
38	38	the lesser of the most recent market value of the residence
39	39	homestead as determined by the appraisal entity or 110 percent, or a
40	40	greater percentage, of the appraised value of the residence
41	41	homestead for the preceding tax year]. A limitation on appraised
42	42	values authorized by this subsection:
43	43	(1) takes effect as to a residence homestead on the
44	44	later of the effective date of the law imposing the limitation or
45	45	January 1 of the first tax year [following the first tax year] the
46	46	owner qualifies the property for an exemption under Section 1-b of
47	47	this article; and
48	48	(2) expires on January 1 of the first tax year that
49	49	neither the owner of the property when the limitation took effect
50	50	nor the owner's spouse or surviving spouse qualifies for an
51	51	exemption under Section 1-b of this article, except that a
52	52	limitation established under this subsection does not expire if a
53	53	change in ownership of the property occurs by inheritance or under a
54	54	will as long as the person who acquires the property qualifies for
55	55	an exemption under Section 1-b of this article.
56	56	(i-1) A general law enacted under Subsection (i) of this
57	57	section may provide that, for each tax year, using the index that
58	58	the comptroller of public accounts considers to most accurately
59	59	report changes in the purchasing power of the dollar for consumers
60	60	in this state, the comptroller shall determine and publicize the
61	61	percentage by which the appraised value of residence homesteads in
62	62	this state may be increased under Subsection (i) of this section.
63	63	Each appraisal entity shall use the percentage determined by the
64	64	comptroller under this subsection to determine the appraised value
65	65	under Subsection (i) of this section of residence homesteads
66	66	appraised by that appraisal entity.
67	67	(i-2) A general law enacted under Subsection (i) of this
68	68	section may provide that if the first tax year an owner of real
69	69	property qualified the property for an exemption under Section 1-b
70	70	of this article was a tax year before the tax year in which the
71	71	general law took effect:
72	72	(1) the property owner is considered to have qualified
73	73	the property for the exemption for the first time in the tax year
74	74	preceding the tax year in which the general law took effect; and
75	75	(2) the appraised value of the property as shown on the
76	76	appraisal roll of the appraisal entity for the tax year preceding
77	77	the tax year in which the general law took effect is considered to
78	78	be the market value of the property for that tax year for purposes
79	79	of Subsection (i) of this section.
80	80	SECTION 2. This proposed constitutional amendment shall be
81	81	submitted to the voters at an election to be held November 7, 2023.
82	82	The ballot shall be printed to permit voting for or against the
83	83	proposition: "The constitutional amendment authorizing the
84	84	legislature to provide that the appraised value of a residence
85	85	homestead for ad valorem tax purposes for the first tax year that
86	86	the owner of the property qualifies the property for a residence
87	87	homestead exemption is the market value of the property and that, if
88	88	the owner purchased the property, the purchase price of the
89	89	property is considered to be the market value of the property for
90	90	that tax year and to limit increases in the appraised value of the
91	91	homestead for subsequent tax years based on the inflation rate."