By: Tepper H.J.R. No. 65
A JOINT RESOLUTION
proposing a constitutional amendment to authorize the legislature
to limit the maximum appraised value of commercial property and
rental property for ad valorem taxation.
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 1, Article VIII, Texas Constitution, is
amended to read as follows:
Sec. 1. EQUALITY AND UNIFORMITY OF TAXATION; TAXATION OF
PROPERTY IN PROPORTION TO VALUE; OCCUPATION AND INCOME TAXES;
EXEMPTION OF CERTAIN TANGIBLE PERSONAL PROPERTY AND SMALL MINERAL
INTERESTS FROM AD VALOREM TAXATION; VALUATION OF RESIDENCE
HOMESTEADS FOR TAX PURPOSES; VALUATION OF COMMERCIAL AND RENTAL
PROPERTY FOR TAX PURPOSES.
(k) Notwithstanding Subsections (a) and (b) of this
section, the Legislature by general law may limit the maximum
appraised value of a commercial property or rental property for ad
valorem tax purposes in a tax year to the lesser of the most recent
market value of the property as determined by the appraisal entity
or 108 percent, or a greater percentage, of the appraised value of
the property for the preceding tax year. A limitation on appraised
values authorized by this subsection:
(1) takes effect as to a commercial property or rental
property on the later of the effective date of the law imposing the
limitation or January 1 of the tax year following the first tax year
the owner qualifies the property for an exemption under Section 1-b
of this article; and
(2) expires on January 1 of the first tax year that
neither the owner of the property when the limitation took effect
nor the owner's spouse or surviving spouse qualifies for an
exemption under Section 1-b of this article.
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 to authorize the
legislature to limit the maximum appraised value of commercial
property and rental property for ad valorem taxation."