| 1 | 1 | | 89R250 LHC-D |
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| 2 | 2 | | By: Goodwin H.J.R. No. 30 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | |
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| 6 | 6 | | |
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| 7 | 7 | | A JOINT RESOLUTION |
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| 8 | 8 | | proposing a constitutional amendment to authorize the legislature |
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| 9 | 9 | | to provide for a limitation on the maximum appraised value for ad |
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| 10 | 10 | | valorem tax purposes of certain leased residential real property. |
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| 11 | 11 | | BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 12 | 12 | | SECTION 1. Section 1, Article VIII, Texas Constitution, is |
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| 13 | 13 | | amended by adding Subsection (k) to read as follows: |
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| 14 | 14 | | (k) This subsection applies only to real property that is a |
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| 15 | 15 | | single-family residential property leased to a lessee and used by |
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| 16 | 16 | | the lessee as a primary residence and that is leased to the lessee |
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| 17 | 17 | | for a rent that does not exceed the fair market |
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| 18 | 18 | | rent. Notwithstanding Subsections (a) and (b) of this section, the |
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| 19 | 19 | | Legislature by general law may limit the maximum appraised value of |
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| 20 | 20 | | such property for ad valorem tax purposes in a tax year to the |
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| 21 | 21 | | lesser of the most recent market value of the property as determined |
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| 22 | 22 | | by the appraisal entity or 110 percent, or a greater percentage, of |
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| 23 | 23 | | the appraised value of the property for the preceding tax year. The |
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| 24 | 24 | | general law enacted under this subsection may prescribe additional |
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| 25 | 25 | | eligibility requirements for the limitation on appraised values |
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| 26 | 26 | | authorized by this subsection. A limitation on appraised values |
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| 27 | 27 | | authorized by this subsection: |
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| 28 | 28 | | (1) takes effect as to real property described by this |
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| 29 | 29 | | subsection on the later of the effective date of the law imposing |
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| 30 | 30 | | the limitation or January 1 of the tax year following the first tax |
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| 31 | 31 | | year in which the owner of the property leases the property for an |
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| 32 | 32 | | amount described by this subsection; and |
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| 33 | 33 | | (2) expires on January 1 of the tax year following the |
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| 34 | 34 | | first tax year in which the owner of the property ceases to lease |
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| 35 | 35 | | the property for an amount described by this subsection. |
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| 36 | 36 | | SECTION 2. This proposed constitutional amendment shall be |
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| 37 | 37 | | submitted to the voters at an election to be held November 4, 2025. |
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| 38 | 38 | | The ballot shall be printed to permit voting for or against the |
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| 39 | 39 | | proposition: "The constitutional amendment to authorize the |
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| 40 | 40 | | legislature to limit the maximum appraised value for ad valorem tax |
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| 41 | 41 | | purposes of certain leased residential real property to 110 percent |
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| 42 | 42 | | or more of the appraised value of the property for the preceding tax |
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| 43 | 43 | | year." |
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