| 1 | 1 | | 88R3242 RDS-D |
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| 2 | 2 | | By: Collier H.J.R. No. 52 |
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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 authorizing the legislature |
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| 7 | 7 | | to provide that the officials responsible for appraising property |
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| 8 | 8 | | for ad valorem taxation in a county may exclude from consideration |
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| 9 | 9 | | the value of new or substantially remodeled residential property |
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| 10 | 10 | | when determining the market value of an older residence homestead |
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| 11 | 11 | | located in or near a tax increment financing reinvestment zone. |
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| 12 | 12 | | BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 13 | 13 | | SECTION 1. Section 1, Article VIII, Texas Constitution, is |
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| 14 | 14 | | amended by adding Subsection (o) to read as follows: |
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| 15 | 15 | | (o) The legislature by general law may provide that, in |
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| 16 | 16 | | determining the market value for ad valorem taxation of a residence |
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| 17 | 17 | | homestead that is more than 30 years old and is located in a tax |
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| 18 | 18 | | increment financing reinvestment zone created by a municipality |
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| 19 | 19 | | under a law authorized by Section 1-g of this article or in the area |
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| 20 | 20 | | adjacent to the zone, the officials responsible for appraising |
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| 21 | 21 | | property for taxation in the county may exclude from consideration |
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| 22 | 22 | | the value of new or substantially remodeled residential properties |
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| 23 | 23 | | that are located in the same neighborhood as the residence |
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| 24 | 24 | | homestead being appraised and that would otherwise be considered in |
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| 25 | 25 | | appraising the residence homestead. The general law may provide |
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| 26 | 26 | | additional eligibility requirements for appraisal under this |
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| 27 | 27 | | subsection. |
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| 28 | 28 | | SECTION 2. This proposed constitutional amendment shall be |
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| 29 | 29 | | submitted to the voters at an election to be held November 7, 2023. |
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| 30 | 30 | | The ballot shall be printed to permit voting for or against the |
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| 31 | 31 | | proposition: "The constitutional amendment authorizing the |
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| 32 | 32 | | legislature to provide that the officials responsible for |
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| 33 | 33 | | appraising property for ad valorem taxation in a county may exclude |
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| 34 | 34 | | from consideration the value of new or substantially remodeled |
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| 35 | 35 | | residential property when determining the market value of an older |
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| 36 | 36 | | residence homestead located in or near a tax increment financing |
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| 37 | 37 | | reinvestment zone." |
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