Bill Text: TX HJR43 | 2017 | 85th 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 other real property for those purposes.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2017-07-25 - Referred to Ways & Means [HJR43 Detail]
Download: Texas-2017-HJR43-Introduced.html
| 85S10265 LHC-D | ||
| By: Cosper | H.J.R. No. 43 | |
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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 other real property 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 | ||
| 107 [ |
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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) 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 120 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 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. | ||
| SECTION 2. This proposed constitutional amendment shall be | ||
| submitted to the voters at an election to be held November 7, 2017. | ||
| 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 107 percent or more of the | ||
| appraised value of the property for the preceding tax year and to | ||
| limit the maximum appraised value of real property other than a | ||
| residence homestead for those purposes to 120 percent or more of the | ||
| appraised value of the property for the preceding tax year." | ||
