Bill > HJR6

This Joint Resolution proposes a constitutional amendment 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 permit the legislature to cap the maximum appraised value of a "residence homestead" (a primary home where the owner lives) at 105% of its value from the previous year, or a higher percentage, and to cap the maximum appraised value of other single-family residences that are not primary homes at 110% of their previous year's value, or a higher percentage. "Ad valorem tax purposes" refers to taxes based on the value of property. This amendment aims to provide property owners with more predictability regarding their property tax bills by preventing rapid increases in their home's appraised value, which directly impacts the amount of property tax owed.