Bill > HJR136

This Joint Resolution proposes an amendment to the Texas Constitution to allow the state legislature to cap how much the appraised value of commercial real property can increase each year for property tax purposes. Currently, property taxes are based on the appraised value of the property, which can fluctuate with market conditions. This amendment would give the legislature the power to pass a law that limits these annual increases, potentially to 110% (or a higher percentage set by the legislature) of the property's value from the previous year, or its current market value, whichever is less. This limitation would apply to "commercial real property," which the legislature would define, and would take effect once a property meets that definition and is owned on January 1st of a tax year, expiring if the ownership changes or the property no longer qualifies. The proposed amendment will be put to a vote of the people on November 5, 2019.