Bill Text: TX HJR145 | 2021-2022 | 87th Legislature | Introduced


Bill Title: Proposing a constitutional amendment to authorize the legislature to limit the appraised value of real property for ad valorem tax purposes to the value when the owner acquired the property and to provide for determining that value on the basis of the purchase price of the property, if applicable.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2021-03-29 - Referred to Ways & Means [HJR145 Detail]

Download: Texas-2021-HJR145-Introduced.html
  87R12374 SMH-D
 
  By: Allison H.J.R. No. 145
 
 
 
A JOINT RESOLUTION
  proposing a constitutional amendment to authorize the legislature
  to limit the appraised value of real property for ad valorem tax
  purposes to the value when the owner acquired the property and to
  provide for determining that value on the basis of the purchase
  price of the property, if applicable.
         BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 1(i), Article VIII, Texas Constitution,
  is amended 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 real property [a residence homestead] for ad
  valorem tax purposes in a tax year to the lesser of the most recent
  market value of the property [residence homestead] as determined by
  the appraisal entity or the sum of [110 percent, or a greater
  percentage, of] the appraised value of the property [residence
  homestead] for the [preceding] tax year in which the owner acquired
  the property and the initial market value of each new improvement to
  the property. The Legislature may provide for determining the
  appraised value of the property for the tax year in which the owner
  acquired the property on the basis of the purchase price the owner
  paid for the property if the owner was a bona fide purchaser for
  value and applies for the limitation on appraised value under this
  subsection not later than a date prescribed by general law in the
  tax year following the year in which the person purchased the
  property. The Legislature may prescribe or delegate to an
  appropriate public official or entity the authority to prescribe
  standards and procedures to administer a law enacted under this
  subsection, including criteria to be used to determine whether a
  person is a bona fide purchaser for value. A limitation on
  appraised values authorized by this subsection:
               (1)  takes effect in the tax year following the first
  tax year in which the owner owns the property on January 1 or, if the
  property qualifies for an exemption as the [to a] residence
  homestead of the owner under Section 1-b of this article in the tax
  year in which the owner acquires the property, in [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
  acquires [qualifies] the property [for an exemption under Section
  1-b of this article]; and
               (2)  expires on January 1 of the [first] tax year
  following the tax year in which [that neither] the owner of the
  property when the limitation took effect ceases to own the
  property, except that the Legislature by general law may provide
  for the limitation applicable to a residence homestead to continue
  during ownership of the property by [nor] the owner's spouse or
  surviving spouse [qualifies for an exemption under Section 1-b of
  this article].
         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 to authorize the
  legislature to limit the appraised value of real property for ad
  valorem tax purposes to the value when the owner acquired the
  property and to provide for determining that value on the basis of
  the purchase price of the property, if applicable."
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