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TX HJR147
Joint Resolution
Status
2/21/2025
Primary Sponsor
Salman Bhojani
Click for details
AI Summary
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Proposes a constitutional amendment allowing the legislature to cap annual property tax appraisal increases at 10% (or higher percentage) for single-family rental properties leased to tenants aged 65 or older
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Applies only when the elderly tenant uses the property as their primary residence and pays rent at or below fair market rent
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The appraisal cap takes effect January 1 of the tax year following the first year the property meets eligibility requirements
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The limitation expires when the property owner stops leasing to an eligible elderly tenant or charges rent exceeding fair market rent
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The proposed constitutional amendment would be submitted to voters on November 4, 2025
Legislative Description
Proposing a constitutional amendment to authorize the legislature to provide for a limitation on the maximum appraised value for ad valorem tax purposes of residential real property leased to an elderly person.
Property Interests
Last Action
Referred to s/c on Property Tax Appraisals by Speaker
3/19/2025