88R3242 RDS-D
By: Collier H.J.R. No. 52
A JOINT RESOLUTION
proposing a constitutional amendment authorizing the legislature
to provide that the officials responsible for appraising property
for ad valorem taxation in a county may exclude from consideration
the value of new or substantially remodeled residential property
when determining the market value of an older residence homestead
located in or near a tax increment financing reinvestment zone.
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 1, Article VIII, Texas Constitution, is
amended by adding Subsection (o) to read as follows:
(o) The legislature by general law may provide that, in
determining the market value for ad valorem taxation of a residence
homestead that is more than 30 years old and is located in a tax
increment financing reinvestment zone created by a municipality
under a law authorized by Section 1-g of this article or in the area
adjacent to the zone, the officials responsible for appraising
property for taxation in the county may exclude from consideration
the value of new or substantially remodeled residential properties
that are located in the same neighborhood as the residence
homestead being appraised and that would otherwise be considered in
appraising the residence homestead. The general law may provide
additional eligibility requirements for appraisal under this
subsection.
SECTION 2. This proposed constitutional amendment shall be
submitted to the voters at an election to be held November 7, 2023.
The ballot shall be printed to permit voting for or against the
proposition: "The constitutional amendment authorizing the
legislature to provide that the officials responsible for
appraising property for ad valorem taxation in a county may exclude
from consideration the value of new or substantially remodeled
residential property when determining the market value of an older
residence homestead located in or near a tax increment financing
reinvestment zone."