Bill > HJR28

This joint resolution proposes a constitutional amendment that would allow the Texas Legislature to implement a cap on the maximum appraised value of certain commercial real property for ad valorem tax purposes. Specifically, the amendment would permit the legislature to limit the appraised value of commercial real property to either the most recent market value determined by an appraisal entity or 120 percent (or a higher percentage) of the property's appraised value from the previous tax year, but only for properties with a market value below a legislatively prescribed amount. The proposed amendment requires that any implementing law define "commercial real property," potentially establish additional eligibility requirements, and specify the maximum market value a property can have to qualify for the valuation limitation. The limitation would take effect either on the law's effective date or on January 1 following the first tax year the property meets the commercial real property definition, and would expire when the property ownership changes or no longer qualifies as commercial real property. The proposed amendment would be submitted to voters in a May 2, 2026 election, with ballot language explaining the proposed tax valuation limitation.

https://capitol.texas.gov/BillLookup/History.aspx?LegSess=892&Bill=HJR28