87R12947 SMT-D
 
  By: Collier H.J.R. No. 146
 
 
 
A JOINT RESOLUTION
  proposing a constitutional amendment authorizing the legislature
  to provide that the officials responsible for appraising property
  for ad valorem taxation in a county may exclude from consideration
  the value of new or substantially remodeled residential property
  when determining the market value of an older residence homestead
  located in or near a tax increment financing reinvestment zone.
         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)  The legislature by general law may provide that, in
  determining the market value for ad valorem taxation of a residence
  homestead that is more than 30 years old and is located in a tax
  increment financing reinvestment zone created by a municipality
  under a law authorized by Section 1-g(b) of this article or in the
  area adjacent to the zone, the officials responsible for appraising
  property for taxation in the county may exclude from consideration
  the value of new or substantially remodeled residential properties
  that are located in the same neighborhood as the residence
  homestead being appraised and that would otherwise be considered in
  appraising the residence homestead. The general law may provide
  additional eligibility requirements for appraisal under this
  subsection.
         SECTION 2.  This proposed constitutional amendment shall be
  submitted to the voters at an election to be held November 2, 2021.
  The ballot shall be printed to permit voting for or against the
  proposition: "The constitutional amendment authorizing the
  legislature to provide that the officials responsible for
  appraising property for ad valorem taxation in a county may exclude
  from consideration the value of new or substantially remodeled
  residential property when determining the market value of an older
  residence homestead located in or near a tax increment financing
  reinvestment zone."