TX HJR32

Proposes a constitutional amendment allowing the Texas Legislature to cap annual appraised value increases on qualifying commercial real property at 10% (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

The appraisal cap takes effect the tax year after an owner acquires the property and the property qualifies as commercial real property under legislative definitions

The limitation expires when the property is sold or no longer meets the definition of commercial real property, resetting the appraised value for the new owner

Scheduled for voter approval on November 4, 2025, with the Legislature required to define "commercial real property" and set eligibility requirements through implementing legislation