Bill > HJR101

This joint resolution proposes a constitutional amendment that would authorize the Texas Legislature to limit the maximum appraised value of certain commercial real property for ad valorem tax purposes (property taxes). Specifically, the amendment would allow the Legislature to create a law that caps the appraised value of commercial properties at either their most recent market value or 120 percent (or a higher percentage) of the property's appraised value from the previous tax year, but only for commercial properties with a market value below a legislatively prescribed threshold. The proposed amendment requires that any such law must clearly define "commercial real property" and can establish additional eligibility requirements for the value limitation. The appraised value 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 meets the commercial property definition, and it would expire when 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.

Budget and Finance

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=HJR101