Bill Text: TX SJR63 | 2017 | 85th Legislature 1st Special Session | Introduced


Bill Title: Proposing a constitutional amendment to authorize the legislature to limit increases in the appraised value of commercial or industrial real property for ad valorem tax purposes.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced) 2017-08-04 - Filed [SJR63 Detail]

Download: Texas-2017-SJR63-Introduced.html
  85S10082 SMH/TJB-D
 
  By: Kolkhorst S.J.R. No. 63
 
 
 
A JOINT RESOLUTION
  proposing a constitutional amendment to authorize the legislature
  to limit increases in the appraised value of commercial or
  industrial real property for ad valorem tax purposes.
         BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 1, Article VIII, Texas Constitution, is
  amended by adding Subsection (k) to read as follows:
         (k)  Notwithstanding Subsections (a) and (b) of this
  section, the Legislature by general law may limit the maximum
  appraised value of a parcel of commercial or industrial real
  property, as defined by the Legislature, 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 commercial or
  industrial real property 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 qualifies as commercial or industrial
  real property; and
               (2)  expires on January 1 of the tax year following the
  first tax year in which the owner of the property ceases to own the
  property or the property ceases to qualify as commercial or
  industrial real 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 permit voting for or against the
  proposition: "The constitutional amendment to authorize the
  legislature to limit increases in the appraised value of commercial
  or industrial real property for ad valorem tax purposes to 20
  percent or more of the appraised value of the property for the
  preceding tax year."
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