Bill Text: TX SJR34 | 2023-2024 | 88th Legislature | Introduced
Bill Title: Proposing a constitutional amendment to authorize the legislature to set a lower limit on the maximum appraised value of a residence homestead for ad valorem tax purposes.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2023-02-17 - Referred to Local Government [SJR34 Detail]
Download: Texas-2023-SJR34-Introduced.html
88R4574 DRS-D | ||
By: Blanco | S.J.R. No. 34 |
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proposing a constitutional amendment to authorize the legislature | ||
to set a lower limit on the maximum appraised value of a residence | ||
homestead 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 amending Subsection (i) and adding Subsection (i-1) 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: | ||
(1) the most recent market value of the residence | ||
homestead as determined by the appraisal entity; or | ||
(2) the lesser of 110 percent[ |
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to the sum of 100 and the inflation rate for the preceding tax year | ||
as determined by general law [ |
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appraised value of the residence homestead for the preceding tax | ||
year. | ||
(i-1) A limitation on appraised values authorized by | ||
Subsection (i) of this section [ |
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(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. | ||
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 set a lower limit on the maximum appraised value of a | ||
residence homestead for ad valorem tax purposes." |