| 1 | 1 | | 88R7896 SHH-D |
|---|
| 2 | 2 | | By: VanDeaver H.J.R. No. 147 |
|---|
| 3 | 3 | | |
|---|
| 4 | 4 | | |
|---|
| 5 | 5 | | A JOINT RESOLUTION |
|---|
| 6 | 6 | | proposing a constitutional amendment to authorize the legislature |
|---|
| 7 | 7 | | to limit the maximum appraised value of a residence homestead for ad |
|---|
| 8 | 8 | | valorem tax purposes to the appraised value of the property when it |
|---|
| 9 | 9 | | was first qualified as a residence homestead, plus the value of |
|---|
| 10 | 10 | | subsequent improvements. |
|---|
| 11 | 11 | | BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|---|
| 12 | 12 | | SECTION 1. Section 1(i), Article VIII, Texas Constitution, |
|---|
| 13 | 13 | | is amended to read as follows: |
|---|
| 14 | 14 | | (i) Notwithstanding Subsections (a) and (b) of this |
|---|
| 15 | 15 | | section, the Legislature by general law may limit the maximum |
|---|
| 16 | 16 | | appraised value of a residence homestead for ad valorem tax |
|---|
| 17 | 17 | | purposes in a tax year to the lesser of the most recent market value |
|---|
| 18 | 18 | | of the residence homestead as determined by the appraisal entity or |
|---|
| 19 | 19 | | [110 percent, or a greater percentage, of] the appraised value of |
|---|
| 20 | 20 | | the residence homestead for the tax year in which the owner first |
|---|
| 21 | 21 | | qualified the property for an exemption under Section 1-b of this |
|---|
| 22 | 22 | | article and the value of subsequent improvements made to the |
|---|
| 23 | 23 | | property [preceding tax year]. A limitation on appraised values |
|---|
| 24 | 24 | | authorized by this subsection: |
|---|
| 25 | 25 | | (1) takes effect as to a residence homestead on the |
|---|
| 26 | 26 | | later of the effective date of the law imposing the limitation or |
|---|
| 27 | 27 | | January 1 of the tax year following the first tax year the owner |
|---|
| 28 | 28 | | qualifies the property for an exemption under Section 1-b of this |
|---|
| 29 | 29 | | article; and |
|---|
| 30 | 30 | | (2) expires on January 1 of the first tax year that |
|---|
| 31 | 31 | | neither the owner of the property when the limitation took effect |
|---|
| 32 | 32 | | nor the owner's spouse or surviving spouse qualifies for an |
|---|
| 33 | 33 | | exemption under Section 1-b of this article. |
|---|
| 34 | 34 | | SECTION 2. This proposed constitutional amendment shall be |
|---|
| 35 | 35 | | submitted to the voters at an election to be held November 7, 2023. |
|---|
| 36 | 36 | | The ballot shall be printed to permit voting for or against the |
|---|
| 37 | 37 | | proposition: "The constitutional amendment to authorize the |
|---|
| 38 | 38 | | legislature to limit the maximum appraised value of a residence |
|---|
| 39 | 39 | | homestead for ad valorem tax purposes to the appraised value of the |
|---|
| 40 | 40 | | property when it was first qualified as a residence homestead, plus |
|---|
| 41 | 41 | | the value of subsequent improvements." |
|---|