88R4574 DRS-D
By: Blanco S.J.R. No. 34
A JOINT RESOLUTION
proposing a constitutional amendment to authorize the legislature
to set a lower limit on the maximum appraised value of a residence
homestead for ad valorem tax purposes.
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 1, Article VIII, Texas Constitution, is
amended by amending Subsection (i) and adding Subsection (i-1) to
read as follows:
(i) Notwithstanding Subsections (a) and (b) of this
section, the Legislature by general law may limit the maximum
appraised value of a residence homestead for ad valorem tax
purposes in a tax year to the lesser of:
(1) the most recent market value of the residence
homestead as determined by the appraisal entity; or
(2) the lesser of 110 percent[,] or a percentage equal
to the sum of 100 and the inflation rate for the preceding tax year
as determined by general law [a greater percentage,] of the
appraised value of the residence homestead for the preceding tax
year.
(i-1) A limitation on appraised values authorized by
Subsection (i) of this section [this subsection]:
(1) takes effect as to a residence homestead 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 set a lower limit on the maximum appraised value of a
residence homestead for ad valorem tax purposes."