TX HJR101

Proposes a constitutional amendment allowing the legislature to cap annual appraised value increases on qualifying commercial real property at 20% (or a higher percentage set by the legislature) for ad valorem tax purposes

Applies only to commercial real property with a market value at or below a threshold amount to be determined by the legislature

Requires the legislature to define "commercial real property" and may establish additional eligibility requirements for the appraisal cap

Appraisal cap takes effect for a property on January 1 of the tax year following the owner's first full year of ownership when the property qualifies as commercial real property

Cap expires when the property is sold or no longer meets the definition of commercial real property; scheduled for voter consideration on November 4, 2025