Bill > HJR51

This Joint Resolution proposes a constitutional amendment that would allow the Texas Legislature to set a lower limit on how much a person's primary residence, known as a "residence homestead," can be appraised for property tax purposes each year. Currently, the law allows for an increase of up to 10% of the previous year's appraised value, but this amendment would give the legislature the power to set that limit at 105% (or even lower) of the prior year's value, or the most recent market value, whichever is less. This means that even if the market value of a home increases significantly, its appraised value for tax purposes would be capped, potentially limiting property tax increases for homeowners. The amendment would take effect for a specific home once the owner qualifies for a homestead exemption and would expire when the original owner, their spouse, or surviving spouse no longer qualifies for that exemption. Finally, this proposed amendment will be put to a vote of the people on November 7, 2023.