Bill Text: TX HJR65 | 2023-2024 | 88th Legislature | Introduced
Bill Title: Proposing a constitutional amendment to authorize the legislature to limit the maximum appraised value of commercial property and rental property for ad valorem taxation.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2023-02-28 - Referred to Ways & Means [HJR65 Detail]
Download: Texas-2023-HJR65-Introduced.html
| By: Tepper | H.J.R. No. 65 | |
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| proposing a constitutional amendment to authorize the legislature | ||
| to limit the maximum appraised value of commercial property and | ||
| rental property for ad valorem taxation. | ||
| BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Section 1, Article VIII, Texas Constitution, is | ||
| amended to read as follows: | ||
| Sec. 1. EQUALITY AND UNIFORMITY OF TAXATION; TAXATION OF | ||
| PROPERTY IN PROPORTION TO VALUE; OCCUPATION AND INCOME TAXES; | ||
| EXEMPTION OF CERTAIN TANGIBLE PERSONAL PROPERTY AND SMALL MINERAL | ||
| INTERESTS FROM AD VALOREM TAXATION; VALUATION OF RESIDENCE | ||
| HOMESTEADS FOR TAX PURPOSES; VALUATION OF COMMERCIAL AND RENTAL | ||
| PROPERTY FOR TAX PURPOSES. | ||
| (k) Notwithstanding Subsections (a) and (b) of this | ||
| section, the Legislature by general law may limit the maximum | ||
| appraised value of a commercial property or rental 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 108 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 commercial property or rental | ||
| 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 | ||
| 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. | ||
| SECTION 2. This proposed constitutional amendment shall be | ||
| submitted to the voters at an election to be held November 7, 2023. | ||
| The ballot shall be printed to permit voting for or against the | ||
| proposition: "The constitutional amendment to authorize the | ||
| legislature to limit the maximum appraised value of commercial | ||
| property and rental property for ad valorem taxation." | ||
