Bill > SJR31

This Joint Resolution proposes a constitutional amendment to allow the Texas Legislature to set a lower limit on how much a person's home (a "residence homestead") can be valued for property tax purposes each year. Currently, the law generally allows the appraised value to increase by up to 10% each year, but this amendment would give the legislature the power to set that limit even lower, for example, to 105% of the previous year's value or the most recent market value, whichever is less. This change would apply to homes that qualify for a homestead exemption, which is a tax break for primary residences, and would remain in effect as long as the owner or their spouse continues to qualify for that exemption. The proposed amendment will be put to a vote of the people on November 2, 2021.