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Bill > HJR173
TX HJR173
TX HJR173Proposing a constitutional amendment authorizing the legislature to provide that the appraised value of a parcel of real property for ad valorem tax purposes for the first tax year in which the owner owns the property on January 1 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 property for subsequent tax
summary
Introduced
03/07/2025
03/07/2025
In Committee
03/31/2025
03/31/2025
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 parcel of real property for ad valorem tax purposes for the first tax year in which the owner owns the property on January 1 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 property for subsequent tax years based on the inflation rate.
AI Summary
This joint resolution proposes a constitutional amendment that would allow the Texas Legislature to establish new rules for property tax appraisals, specifically enabling a method where the initial property tax appraisal for a new property owner would be based on the market value or purchase price of the property. The amendment would permit the Legislature to limit increases in the property's appraised value for subsequent tax years based on the inflation rate, as determined by a specific consumer purchasing power index calculated by the state comptroller. This means that once a person buys a property, its taxable value would be set at the purchase price in the first year and then could only increase by a small, inflation-linked percentage in following years, potentially providing more predictability and affordability for property owners. The proposed amendment would apply to various types of real property, including manufactured or mobile homes used as dwellings, and includes provisions for how the rule would be implemented for properties already owned before the law takes effect. The constitutional amendment would be submitted to Texas voters for approval in a November 4, 2025 election.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Referred to s/c on Property Tax Appraisals by Speaker (on 03/31/2025)
bill text
bill summary
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bill summary
Document Type | Source Location |
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State Bill Page | https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=HJR173 |
BillText | https://capitol.texas.gov/tlodocs/89R/billtext/html/HJ00173I.htm |
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