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A JOINT RESOLUTION
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proposing a constitutional amendment to authorize the legislature |
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to limit the maximum appraised value of a residence homestead for ad |
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valorem tax purposes to 105 percent or less of the appraised value |
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of the property for the preceding tax year and to permit the voters |
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of a county to establish a higher limitation not to exceed 110 |
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percent on the maximum appraised value of a residence homestead in |
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the county. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 1, Article VIII, Texas Constitution, is |
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amended by amending Subsection (i) and adding Subsections (i-1) and |
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(i-2) to read as follows: |
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(i) Notwithstanding Subsections (a) and (b) of this |
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section, the Legislature by general law may limit the maximum |
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appraised value of a residence homestead for ad valorem tax |
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purposes in a tax year to the lesser of the most recent market value |
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of the residence homestead as determined by the appraisal entity or |
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105 [110] percent, or a lesser [greater] percentage, of the |
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appraised value of the residence homestead for the preceding tax |
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year. A limitation on appraised values authorized by this |
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subsection: |
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(1) takes effect as to a residence homestead on the |
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later of the effective date of the law imposing the limitation or |
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January 1 of the tax year following the first tax year the owner |
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qualifies the property for an exemption under Section 1-b of this |
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article; and |
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(2) expires on January 1 of the first tax year that |
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neither the owner of the property when the limitation took effect |
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nor the owner's spouse or surviving spouse qualifies for an |
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exemption under Section 1-b of this article. |
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(i-1) Notwithstanding Subsections (a) and (b) of this |
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section, if the Legislature establishes a limitation on the maximum |
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appraised value of a residence homestead as authorized by |
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Subsection (i) of this section, the commissioners court of a county |
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may call an election in the county to permit the voters to determine |
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by majority vote whether to establish for purposes of ad valorem |
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taxation by each political subdivision in the county a percentage |
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limitation on the maximum appraised value of a residence homestead |
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in the county that is greater than the percentage established by the |
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Legislature under Subsection (i) of this section but not more than |
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110 percent. The ballot proposition shall specify the proposed |
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percentage limitation on maximum appraised value. If approved by |
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the voters, the limitation applies beginning with the tax year |
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following the year in which the election is held. A limitation on |
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maximum appraised value established under this subsection takes |
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effect as to a residence homestead on the later of January 1 of the |
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tax year following the year in which the election is held or January |
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1 of the tax year following the first tax year the owner qualifies |
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the property for an exemption under Section 1-b of this article. As |
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to a residence homestead, the limitation expires on January 1 of the |
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first tax year that neither the owner of the property when the |
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limitation took effect nor the owner's spouse or surviving spouse |
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qualifies for an exemption under Section 1-b of this article. If |
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the voters of a county establish a limitation on maximum appraised |
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value under this subsection, the limitation remains in effect until |
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the tax year following a year in which the limitation is amended or |
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repealed by the voters of the county at a subsequent election called |
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by the commissioners court. The Legislature by general law may |
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limit the frequency with which elections authorized by this |
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subsection may be called in a county. |
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(i-2) The Legislature by general law may provide that a |
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limitation on the maximum appraised value of a residence homestead |
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established under Subsection (i) or (i-1) of this section does not |
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apply to a new improvement to the residence homestead. |
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SECTION 2. This proposed constitutional amendment shall be |
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submitted to the voters at an election to be held November 8, 2011. |
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The ballot shall be printed to permit voting for or against the |
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proposition: "The constitutional amendment to authorize the |
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legislature to limit the maximum appraised value of a residence |
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homestead for ad valorem tax purposes to 105 percent or less of the |
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appraised value of the property for the preceding tax year and to |
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permit the voters of a county to establish a higher limitation not |
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to exceed 110 percent on the maximum appraised value of a residence |
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homestead in the county." |