Proposing a constitutional amendment authorizing the legislature to limit the maximum appraised value of a residence homestead for ad valorem tax purposes to the lesser of the most recent market value of the residence homestead or 115 percent, or a greater percentage, of the appraised value of the residence homestead for the last year in which the residence homestead was appraised for ad valorem tax purposes, to limit the frequency of the reappraisal of a residence homestead for those purposes, and to permit the voters of a county to establish a higher limitation on the maximum appraised value of a residence homestead for those purposes.
Proposing a constitutional amendment authorizing the legislature to provide that the appraised value of a parcel of real property for ad valorem tax purposes for the first tax year in which the owner owns the property on January 1 is the market value of the property and that, if the owner purchased the property, the purchase price of the property is considered to be the market value of the property for that tax year and to limit increases in the appraised value of the property for subsequent tax years based on the inflation rate.
Relating to the determination of the capitalization rate to be used in the appraisal for ad valorem tax purposes of certain property used for low-income housing.
Proposing a constitutional amendment establishing a limitation on the total amount of ad valorem taxes that certain political subdivisions may impose on the residence homesteads of persons who are disabled or elderly and their surviving spouses.
Relating to the establishment of a limitation on the total amount of ad valorem taxes that certain taxing units may impose on the residence homesteads of individuals who are disabled or elderly and their surviving spouses.
Relating to the repeal of the requirement that each appraisal district periodically confirm that recipients of residence homestead exemptions qualify for those exemptions.