TX SJR25

Proposes a constitutional amendment to exempt all tangible personal property in Texas from ad valorem (property) taxation, effective January 1, 2026

Limits future property taxation to real property only, removing tangible personal property (such as business equipment, inventory, and vehicles) from the tax base

Allows tax authorities to continue collecting taxes on tangible personal property pledged as debt collateral before January 1, 2026, until that debt is discharged

Removes railroad rolling stock from property taxation while maintaining taxation of railroad real property (including roadbed and fixtures) in the counties where located

Repeals multiple existing constitutional provisions related to tangible personal property taxation (Sections 1(d), (e), (g), 1-i, 1-j, 1-n, 1-p, 1-x, 19, and 19a of Article VIII)

Requires voter approval at an election on November 4, 2025