Bill > HJR32

This joint resolution proposes a constitutional amendment to give the Texas Legislature the power to limit the maximum appraised value of certain commercial real property for property tax purposes. Specifically, the amendment would allow the Legislature to create a law that caps the appraised value of commercial properties at either the most recent market value determined by an appraisal entity or 110 percent (or a higher percentage) of the previous year's appraised value, but only for properties with a market value below a legislatively prescribed threshold. The limitation would take effect either on the law's effective date or on January 1 of the tax year following the first year the property owner owns the property and it meets the definition of commercial real property. The limitation would expire if the property owner changes or the property no longer qualifies as commercial real estate. The proposed amendment would be submitted to voters in a November 4, 2025 election, with ballot language explaining the proposed change to property tax appraisal limitations for commercial properties.

Budget and Finance

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=HJR32