89R2998 DRS-D
By: Kolkhorst S.J.R. No. 23
A JOINT RESOLUTION
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.
BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Sections 1(n) and (n-1), Article VIII, Texas
Constitution, are amended to read as follows:
(n) This subsection does not apply to a residence homestead
to which Subsection (i) of this section applies. Notwithstanding
Subsections (a) and (b) of this section, the Legislature by general
law may limit the maximum appraised value of real 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 [120] 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 a parcel of 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 owns the property on
January 1; and
(2) expires on January 1 of the tax year following the
tax year in which the owner of the property ceases to own the
property.
(n-1) This subsection and Subsection (n) of this section
expire December 31, 2031 [2026].
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 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."