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Bill > SJR15
TX SJR15
TX SJR15Proposing a constitutional amendment authorizing the legislature to provide that the appraised value of a residence homestead for ad valorem tax purposes for the first tax year that the owner of the property qualifies the property for a residence homestead exemption is the market value of the property and that, if the owner purchased the property, the purchase price of the property is considered to be the market value of the property for that tax year and to limit increases in the appraised valu
summary
Introduced
11/12/2024
11/12/2024
In Committee
02/03/2025
02/03/2025
Crossed Over
Passed
Dead
06/02/2025
06/02/2025
Introduced Session
89th Legislature Regular Session
Bill Summary
A JOINT RESOLUTION proposing a constitutional amendment authorizing the legislature to provide that the appraised value of a residence homestead for ad valorem tax purposes for the first tax year that the owner of the property qualifies the property for a residence homestead exemption is the market value of the property and that, if the owner purchased the property, the purchase price of the property is considered to be the market value of the property for that tax year and to limit increases in the appraised value of the homestead for subsequent tax years based on the market value of all new improvements to the property.
AI Summary
This joint resolution proposes a constitutional amendment related to property tax assessments for residential homesteads in Texas. The amendment would allow the legislature to set the initial appraised value of a homestead in the first year of a homeowner's exemption at the property's market value or purchase price. For subsequent tax years, the appraised value would be calculated by adding the previous year's appraised value to the market value of any new improvements to the property. This change aims to provide more predictable and potentially lower property tax assessments for homeowners. The resolution includes provisions for when the tax limitation takes effect and how it applies to properties, including special considerations for inherited properties. The proposed amendment would be submitted to voters for approval in a November 4, 2025 election, with ballot language explaining the key provisions of the tax assessment method. The term "ad valorem" refers to property taxes calculated based on the assessed value of the property.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
Referred to Local Government (on 02/03/2025)
Official Document
bill text
bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=SJR15 |
| BillText | https://capitol.texas.gov/tlodocs/89R/billtext/html/SJ00015I.htm |
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