Bill > HJR209

This joint resolution proposes a constitutional amendment to help first-time homebuyers by creating a one-time property tax credit. Specifically, the amendment would authorize the Texas legislature to provide a tax credit for individuals purchasing their first residential property that qualifies as their primary residence. The credit would be limited to the lesser of $3,000 (prorated based on the specific political subdivision's tax rate) or half of the taxes imposed by the political subdivision. The legislature would have the ability to establish additional eligibility requirements for receiving the credit. Importantly, the amendment also allows the state to use state funds to reimburse political subdivisions (like counties or cities) for the revenue they lose as a result of this tax credit. The proposed amendment would be submitted to voters for approval at the November 4, 2025 election, with ballot language explaining the proposed tax credit for first-time homeowners. Key terms like "ad valorem taxes" refer to property taxes calculated based on the assessed value of the property.

Budget and Finance

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=89R&Bill=HJR209