Bill > HJR108

This Joint Resolution proposes an amendment to the Texas Constitution to allow the state legislature to set limits on how much the appraised value of certain properties can increase each year for property tax purposes. Specifically, it would authorize the legislature to cap the appraised value of a "residence homestead" – a person's primary home where they live and qualify for a homestead exemption – at a certain percentage of its value from the previous year, or its current market value, whichever is less. It also proposes a similar, though slightly different, cap for single-family residences that are not primary homes, also based on a percentage of their previous year's appraised value or current market value. This measure aims to provide some predictability and potential relief from rapidly increasing property taxes by preventing the appraised value of these homes from jumping too high in a single year.