Bill > HJR31

This Joint Resolution proposes a constitutional amendment to allow the Texas Legislature to establish a lower cap on how much the appraised value of a home, known as a "residence homestead," can increase each year for property tax (ad valorem taxation) purposes. Currently, the law allows for a maximum increase of 10% of the previous year's appraised value, or 102.5% of the market value, whichever is less. This amendment would give the legislature the power to set an even lower percentage limit on these annual increases, potentially reducing property tax burdens for homeowners. This change would take effect for a specific home after the owner qualifies for a homestead exemption and would remain in place as long as the owner, their spouse, or surviving spouse continues to qualify for that exemption. The proposed amendment will be put to a vote of the people on November 2, 2021.