| 1 | 1 | | 88R11006 DRS-D |
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| 2 | 2 | | By: Campos H.J.R. No. 179 |
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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 for ad valorem tax purposes and |
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| 8 | 8 | | exempt from ad valorem taxation a portion of the market value of |
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| 9 | 9 | | rental real property that primarily serves as the residence of the |
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| 10 | 10 | | occupants of the property. |
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| 11 | 11 | | BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 12 | 12 | | SECTION 1. Section 1, Article VIII, Texas Constitution, is |
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| 13 | 13 | | amended by adding Subsection (i-2) to read as follows: |
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| 14 | 14 | | (i-2) Notwithstanding Subsections (a) and (b) of this |
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| 15 | 15 | | section, the Legislature by general law may limit the maximum |
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| 16 | 16 | | appraised value for ad valorem taxation of rental real property |
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| 17 | 17 | | that primarily serves as the residence of the occupants of the |
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| 18 | 18 | | property to the lesser of the most recent market value of the |
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| 19 | 19 | | property as determined by the appraisal entity or 110 percent, or a |
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| 20 | 20 | | greater percentage, of the appraised value of the property for the |
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| 21 | 21 | | preceding tax year. This subsection does not apply to a residence |
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| 22 | 22 | | homestead to which Subsection (i) of this section applies. |
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| 23 | 23 | | SECTION 2. Article VIII, Texas Constitution, is amended by |
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| 24 | 24 | | adding Section 1-b-3 to read as follows: |
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| 25 | 25 | | Sec. 1-b-3. The legislature by general law may exempt from |
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| 26 | 26 | | ad valorem taxation by a school district a portion of the appraised |
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| 27 | 27 | | value of rental real property that primarily serves as the |
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| 28 | 28 | | residence of the occupants of the property. Where ad valorem tax of |
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| 29 | 29 | | a school district has previously been pledged for the payment of |
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| 30 | 30 | | debt, the taxing officers of the district may continue to levy and |
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| 31 | 31 | | collect the tax against the value of real property exempted under |
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| 32 | 32 | | this section until the debt is discharged if the cessation of the |
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| 33 | 33 | | levy would impair the obligation of the contract by which the debt |
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| 34 | 34 | | was created. The legislature by general law may prescribe |
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| 35 | 35 | | additional eligibility requirements for the exemption authorized |
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| 36 | 36 | | by this section. |
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| 37 | 37 | | SECTION 3. This proposed constitutional amendment shall be |
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| 38 | 38 | | submitted to the voters at an election to be held November 7, |
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| 39 | 39 | | 2023. The ballot shall be printed to permit voting for or against |
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| 40 | 40 | | the proposition: "The constitutional amendment to authorize the |
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| 41 | 41 | | legislature to limit the maximum appraised value for ad valorem tax |
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| 42 | 42 | | purposes and to exempt from ad valorem taxation a portion of the |
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| 43 | 43 | | market value of rental real property that primarily serves as the |
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| 44 | 44 | | residence of the occupants of the property." |
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