Bill Text: TX HJR24 | 2021 | 87th Legislature 1st Special Session | Introduced
Bill Title: Proposing a constitutional amendment to authorize the legislature to establish a lower limit on the maximum appraised value of residence homesteads for ad valorem tax purposes and to establish a limit on the value of single-family residences other than residence homesteads for those purposes.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2021-07-15 - Filed [HJR24 Detail]
Download: Texas-2021-HJR24-Introduced.html
| 87S10870 TJB-D | ||
| By: Capriglione | H.J.R. No. 24 | |
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| proposing a constitutional amendment to authorize the legislature | ||
| to establish a lower limit on the maximum appraised value of | ||
| residence homesteads for ad valorem tax purposes and to establish a | ||
| limit on the value of single-family residences other than residence | ||
| homesteads for those purposes. | ||
| BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Section 1, Article VIII, Texas Constitution, is | ||
| amended by amending Subsection (i) and adding Subsection (k) to | ||
| read as follows: | ||
| (i) Notwithstanding Subsections (a) and (b) of this | ||
| section, the Legislature by general law may limit the maximum | ||
| appraised value of a residence homestead for ad valorem tax | ||
| purposes in a tax year to the lesser of the most recent market value | ||
| of the residence homestead as determined by the appraisal entity or | ||
| 105 [ |
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| of the residence homestead for the preceding tax year. A limitation | ||
| on appraised values authorized by this subsection: | ||
| (1) takes effect as to a residence homestead 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 the owner | ||
| qualifies the property for an exemption under Section 1-b of this | ||
| article; and | ||
| (2) expires on January 1 of the first tax year that | ||
| neither the owner of the property when the limitation took effect | ||
| nor the owner's spouse or surviving spouse qualifies for an | ||
| exemption under Section 1-b of this article. | ||
| (k) Notwithstanding Subsections (a) and (b) of this | ||
| section, the Legislature by general law may limit the maximum | ||
| appraised value of a single-family residence other than a residence | ||
| homestead 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 | ||
| limitation on appraised values authorized by this subsection: | ||
| (1) takes effect as to a single-family residence 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 | ||
| is used as a single-family residence; 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 or the property ceases to be used as a single-family | ||
| residence. | ||
| 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 provide for voting for or against the | ||
| proposition: "The constitutional amendment to authorize the | ||
| legislature to limit the maximum appraised value of a residence | ||
| homestead for ad valorem tax purposes to 105 percent or more of the | ||
| appraised value of the property for the preceding tax year and to | ||
| limit the maximum appraised value of a single-family residence | ||
| other than a residence homestead for those purposes to 110 percent | ||
| or more of the appraised value of the property for the preceding tax | ||
| year." | ||
