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TX HJR209
Joint Resolution
Status
3/14/2025
Primary Sponsor
Salman Bhojani
Click for details
AI Summary
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Proposes a constitutional amendment authorizing the legislature to create a one-time property tax credit for first-time homebuyers in the first year their property qualifies as a residence homestead
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Caps the credit at the lesser of: a proportional share of $3,000 based on each political subdivision's portion of total property taxes, or one-half of the taxes imposed by that political subdivision
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Applies only to individuals who have never previously qualified a property as their residence homestead
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Authorizes the use of state funds to reimburse political subdivisions (cities, counties, school districts, etc.) for revenue losses resulting from the tax credit
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Requires voter approval at an election scheduled for November 4, 2025
Legislative Description
Proposing a constitutional amendment to authorize the legislature to provide for a one-time credit against the ad valorem taxes imposed by a political subdivision on the first property that a person purchases and qualifies as the person's residence homestead and to provide for the reimbursement of political subdivisions for the revenue loss incurred as a result of the credit.
Property Interests
Last Action
Left pending in committee
5/5/2025