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A JOINT RESOLUTION
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proposing a constitutional amendment authorizing the legislature |
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to provide that the maximum appraised value of a residence |
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homestead for ad valorem taxation is limited to the lesser of the |
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most recent market value of the residence homestead as determined |
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by the appraisal entity or 110 percent, or a greater percentage, of |
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the appraised value of the residence homestead for the preceding |
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tax year. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 1(i), Article VIII, Texas Constitution, |
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is amended 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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[average annual percentage increase in the] appraised value of a |
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residence homestead [homesteads] for ad valorem tax purposes in a |
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tax year to the lesser of the most recent market value of the |
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residence homestead as determined by the appraisal entity or 110 |
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[10] percent, or a greater percentage, of the appraised value of the |
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residence homestead for the preceding tax [each] year [since the
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most recent tax appraisal]. A limitation on appraised values |
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[appraisal increases] authorized by this 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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SECTION 2. This proposed constitutional amendment shall be |
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submitted to the voters at an election to be held November 6, 2007. |
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The ballot shall be printed to permit voting for or against the |
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proposition: "The constitutional amendment authorizing the |
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legislature to provide that the maximum appraised value of a |
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residence homestead for ad valorem taxation is limited to the |
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lesser of the most recent market value of the residence homestead as |
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determined by the appraisal entity or 110 percent, or a greater |
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percentage, of the appraised value of the residence homestead for |
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the preceding tax year." |
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______________________________ |
______________________________ |
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President of the Senate |
Speaker of the House |
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I certify that H.J.R. No. 40 was passed by the House on May 8, |
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2007, by the following vote: Yeas 140, Nays 0, 2 present, not |
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voting. |
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______________________________ |
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Chief Clerk of the House |
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I certify that H.J.R. No. 40 was passed by the Senate on May |
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22, 2007, by the following vote: Yeas 29, Nays 1. |
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______________________________ |
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Secretary of the Senate |
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RECEIVED: _____________________ |
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Date |
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_____________________ |
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Secretary of State |