Proposing a constitutional amendment to authorize the legislature to make permanent the limit on the maximum appraised value of real property other than a residence homestead for ad valorem tax purposes.
Impact
The proposed amendment is significant as it would directly alter the constitutional provisions governing property appraisals. By allowing the legislature to impose a permanent limit, it could lead to a more controlled taxation environment, which some stakeholders believe is essential for fostering business growth and attracting investments. The amendment's success, pending voter approval in the upcoming election slated for May 2, 2026, will depend on public sentiment regarding property taxation and its implications on local funding sources, particularly for schools and infrastructure.
Summary
HJR29 proposes a constitutional amendment that empowers the Texas legislature to make permanent the limit on the maximum appraised value of real property, excluding residential homesteads, for ad valorem tax purposes. This resolution aims to solidify the cap on property appraisals, which could stabilize tax obligations for businesses and non-residential properties against fluctuating market values. The potential for increased predictability in property taxes may be viewed as beneficial for business planning and development across the state.
Contention
Debate surrounding HJR29 is likely to center on the balance between providing financial predictability for property owners and ensuring adequate funding for public services. Proponents argue that a permanent limit would protect property owners from sudden increases in tax assessments driven by market volatility. Conversely, opponents may express concern that restricting tax revenues could impede the ability of local governments to meet their fiscal needs. This dynamic constitutes a central point in the discussion about property taxes in Texas, where local funding is crucial for various public services.
Proposing a constitutional amendment to authorize the legislature to set lower limits on the maximum appraised value of residence homesteads and of real property other than a residence homestead for ad valorem tax purposes and to make permanent the limit on the maximum appraised value of real property other than a residence homestead.
Proposing a constitutional amendment to authorize the legislature to make permanent the limit on the maximum appraised value of real property other than a residence homestead for ad valorem tax purposes.
Proposing a constitutional amendment to authorize the legislature to make permanent the limit on the maximum appraised value of real property other than a residence homestead for ad valorem tax purposes.
Proposing a constitutional amendment to authorize the legislature to establish a limit on the maximum appraised value of real property other than a residence homestead for ad valorem tax purposes.
Proposing a constitutional amendment to authorize the legislature to establish a limit on the maximum appraised value of real property other than a residence homestead for ad valorem tax purposes.
Proposing a constitutional amendment to authorize the legislature to establish a lower limit on the maximum appraised value of residence homesteads for ad valorem tax purposes and to establish a limit on the value of single-family residences other than residence homesteads for those purposes.
Proposing a constitutional amendment to authorize the legislature to establish a lower limit on the maximum appraised value of residence homesteads for ad valorem tax purposes and to establish a limit on the value of single-family residences other than residence homesteads for those purposes.
Proposing a constitutional amendment to authorize the legislature to set a lower limit on the maximum appraised value of real property other than a residence homestead for ad valorem tax purposes and to postpone the expiration of the limit.