Bill > HJR21

This joint resolution proposes a constitutional amendment that would allow the Texas Legislature to establish limitations on the maximum appraised value of certain commercial real property for ad valorem tax purposes. Specifically, the amendment would permit the Legislature to cap the appraised value of commercial properties at either the most recent market value determined by the appraisal entity or 110 percent (or a higher percentage) of the property's appraised value from the previous tax year. The Legislature would be required to define "commercial real property" and set additional eligibility requirements, including a maximum market value threshold for properties to qualify for this valuation limitation. The limitation would take effect on the later of the law's effective date or January 1 following the first tax year the property meets the commercial real property definition, and would expire when the property owner changes or the property no longer qualifies as commercial real estate. The proposed amendment would be submitted to Texas voters in a May 2, 2026 election, with ballot language clearly explaining the proposed tax valuation limitation.

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=891&Bill=HJR21