Bill > HJR160

This Joint Resolution proposes a constitutional amendment that would allow the Texas Legislature to set a lower cap on how much the appraised value of a home (a "residence homestead") can increase each year for property tax (ad valorem taxation) purposes. Currently, the law allows for a 10% increase in appraised value year-over-year, but this resolution would permit the legislature to lower that percentage, for example, to 5% (indicated by the "105" in the text, meaning 105% of the previous year's value, or a 5% increase). This change would apply to homes that qualify for a homestead exemption, which is a tax break for primary residences, and would take effect after the owner qualifies for the exemption and would expire if the owner or their spouse no longer qualifies. The proposed amendment will be put to a vote of the people on November 7, 2023.