Texas HJR 8: Proposing a constitutional amendment to authorize the legislature to limit the maximum appraised value of commercial property and rental property for ad valorem taxation.

Bill Text

By:AATepperH.J.R.ANo.A8
A JOINTRESOLUTION
proposinga constitutionalamendmentto authorizethe legislature
to limitthemaximumappraisedvalueof commercialpropertyand
rentalpropertyfor ad valoremtaxation.
BE IT RESOLVEDBY THE LEGISLATUREOF THE STATEOF TEXAS:
SECTION
A1.AASection1,  ArticleVIII,TexasConstitution,is
amendedto readas follows:
Sec.
A1.AAEQUALITYANDUNIFORMITYOF TAXATION;TAXATIONOF
PROPERTYIN PROPORTIONTO VALUE;OCCUPATIONANDINCOMETAXES;
EXEMPTIONOF CERTAINTANGIBLEPERSONALPROPERTYAND SMALLMINERAL
INTERESTSFROMAD  VALOREMTAXATION;VALUATIONOF  RESIDENCE
HOMESTEADSFORTAXPURPOSES;VALUATIONOF COMMERCIALANDRENTAL
PROPERTYFOR TAX PURPOSES.
(k)
AANotwithstandingSubsections(a)and(b)ofthis
section,theLegislatureby generallawmaylimitthemaximum
appraisedvalueof a commercialpropertyor rentalpropertyfor ad
valoremtax purposesin a tax yearto the lesserof the mostrecent
marketvalueof the propertyas determinedby the appraisalentity
or 108 percent,or a greaterpercentage,of the appraisedvalueof
the propertyfor the precedingtax year.A limitationon appraised
valuesauthorizedby thissubsection:
(1)
AAtakeseffectas to a commercialpropertyor rental
propertyon the laterof the effectivedateof the law imposingthe
limitationor January1 of the tax yearfollowingthe firsttax year
the ownerqualifiesthe propertyfor an exemptionunderSection1-b
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of thisarticle;and
(2)
AAexpireson January1 of thefirsttaxyearthat
neitherthe ownerof the propertywhenthe limitationtookeffect
northeowner
’s  spouseor  survivingspousequalifiesforan
exemptionunderSection1-b of thisarticle.
SECTION
A2.AAThisproposedconstitutionalamendmentshallbe
submittedto the votersat an electionto be heldNovember7, 2023.
Theballotshallbe printedto permitvotingforor againstthe
proposition:"Theconstitutionalamendmentto  authorizethe
legislatureto limitthemaximumappraisedvalueof commercial
propertyand rentalpropertyfor ad valoremtaxation."
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H.J.R.
ANo.A8
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