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TX HJR39
Joint Resolution
Status
11/12/2024
Primary Sponsor
William Metcalf
Click for details
AI Summary
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Amends Section 1(i), Article VIII of the Texas Constitution to lower the homestead appraisal cap from 110% to 105% of the previous year's appraised value
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Allows the legislature to limit annual increases in residence homestead appraised values to the lesser of current market value or 105% (or greater percentage) of the prior year's value
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Appraisal limitation takes effect January 1 of the tax year following when the owner first qualifies for the homestead exemption
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Limitation expires when neither the original owner, their spouse, nor surviving spouse qualifies for a homestead exemption
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Requires voter approval at an election to be held November 4, 2025
Legislative Description
Proposing a constitutional amendment to authorize the legislature to set a lower limit on the maximum appraised value of a residence homestead for ad valorem taxation.
Property Interests
Last Action
Referred to s/c on Property Tax Appraisals by Speaker
3/3/2025