Bill > HJR152

This Joint Resolution proposes a constitutional amendment to allow the state legislature to set a lower cap on how much the appraised value of a home used as a primary residence (a "residence homestead") can increase each year for property tax purposes. Currently, the law allows this appraised value to increase by up to 10% annually, but this amendment would give the legislature the power to lower that percentage, potentially to 2% or even less, thereby limiting how much property taxes can rise on a homestead year-over-year. This change would require voter approval in an election scheduled for November 7, 2023, and would take effect for homeowners who qualify for property tax exemptions on their primary residence.