Texas HJR147 proposes a constitutional amendment to allow the legislature to limit the appraised value for tax purposes of residential property.

Texas HJR147 proposes a constitutional amendment to authorize the legislature to limit the maximum appraised value for ad valorem tax purposes of residential real property leased to an elderly person. The amendment applies to single-family residential properties leased to individuals aged 65 or older, used as a primary residence, and rented at or below the fair market rent. The legislature may set the maximum appraised value at the lesser of the most recent market value or 110 percent of the appraised value from the preceding tax year.

Texas HJR147 proposes a constitutional amendment to allow the legislature to limit the appraised value for tax purposes of residential property.

Texas HJR147 proposes a constitutional amendment to authorize the legislature to limit the maximum appraised value for ad valorem tax purposes of residential real property leased to an elderly person. The amendment applies to single-family residential properties leased to individuals aged 65 or older, used as a primary residence, and rented at or below the fair market rent. The legislature may set the maximum appraised value at the lesser of the most recent market value or 110 percent of the appraised value from the preceding tax year.