Bill > HJR132

This Joint Resolution proposes an amendment to the Texas Constitution that would allow the state legislature to establish a lower cap on how much the appraised value of a person's primary residence, known as a "residence homestead," can increase each year for property tax (ad valorem tax) purposes. Currently, the law allows for a maximum increase of 10% per year, but this amendment would give the legislature the power to set that limit even lower, or to allow for a greater percentage increase than the current 105% of the previous year's value. This new limitation would apply to a homestead starting either on the effective date of the law or the first day of the tax year after the owner qualifies for a homestead exemption, and it would remain in effect as long as the original owner, their spouse, or surviving spouse continues to qualify for the exemption. If approved by voters, this proposed amendment would be placed on the ballot for the November 2, 2021 election.