Bill > SJR38

This Joint Resolution proposes an amendment to the Texas Constitution that would allow the state legislature to establish a lower cap and potentially multiple different caps on how much the appraised value of a person's primary residence, known as a "residence homestead," can increase each year for property tax purposes. Currently, the law limits annual increases to 103% (or a higher percentage if the legislature chooses) of the previous year's appraised value, but this amendment would give the legislature more flexibility to set these limits, including potentially different limits for homes with lower versus higher appraised values. This change aims to provide more control over property tax increases for homeowners, particularly in areas with rapidly rising property values, and would take effect for a homestead once the owner qualifies for a homestead exemption and would expire when the owner or their surviving spouse no longer qualifies for that exemption.