89R14558 LHC-D
By: Bhojani H.J.R. No. 147
A JOINT RESOLUTION
proposing a constitutional amendment to authorize the legislature
to provide for a limitation on the maximum appraised value for ad
valorem tax purposes of residential real property leased to an
elderly person.
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 1, Article VIII, Texas Constitution, is
amended by adding Subsection (k) to read as follows:
(k) This subsection applies only to real property that is a
single-family residential property leased to a lessee who is 65
years of age or older and used by the lessee as a primary residence
and that is leased to the lessee for a rent that does not exceed the
fair market rent. Notwithstanding Subsections (a) and (b) of this
section, the Legislature by general law may limit the maximum
appraised value of such 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 110 percent, or a
greater percentage, of the appraised value of the property for the
preceding tax year. The general law enacted under this subsection
may prescribe additional eligibility requirements for the
limitation on appraised values authorized by this subsection. A
limitation on appraised values authorized by this subsection:
(1) takes effect as to real property described by this
subsection 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 in which the owner of the property leases the property to a
lessee and for an amount described by this subsection; and
(2) expires on January 1 of the tax year following the
first tax year in which the owner of the property ceases to lease
the property to a lessee or for an amount described by this
subsection.
SECTION 2. This proposed constitutional amendment shall be
submitted to the voters at an election to be held November 4, 2025.
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 for ad valorem tax
purposes of residential real property leased to an elderly person
to 110 percent or more of the appraised value of the property for
the preceding tax year."