89R1800 RDS-D
By: Metcalf H.J.R. No. 32
A JOINT RESOLUTION
proposing a constitutional amendment to authorize the legislature
to limit the maximum appraised value of certain commercial real
property 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 adding Subsection (l) to read as follows:
(l) Notwithstanding Subsections (a) and (b) of this
section, the Legislature by general law may limit the maximum
appraised value of a parcel of commercial real property with a
market value that is not greater than an amount prescribed by the
Legislature 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. A law
enacted under this subsection must define "commercial real
property" for purposes of this subsection and may prescribe
additional eligibility requirements for the limitation on
appraised value authorized by this subsection. A law enacted under
this subsection must prescribe the maximum market value that a
parcel of commercial real property may have in the tax year in which
the limitation on appraised value authorized by this subsection
takes effect as to the property in order for the property to be
eligible for the limitation. A limitation on appraised value
authorized by this subsection:
(1) takes effect as to a parcel of commercial real
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
in which the owner owns the property on January 1 and in which the
property meets the definition of commercial real property; and
(2) expires on January 1 of the tax year following the
first tax year in which the owner of the property ceases to own the
property or the property no longer meets the definition of
commercial real property.
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 for ad valorem tax purposes the maximum
appraised value of commercial real property with a market value
that is not greater than an amount prescribed by the legislature to
110 percent or more of the appraised value of the property for the
preceding tax year."