Proposes a constitutional amendment to allow the Texas legislature to limit the maximum appraised value for ad valorem tax purposes of leased.

This bill proposes a constitutional amendment to authorize the Texas legislature to limit the maximum appraised value for ad valorem tax purposes of certain leased residential real property. The amendment would apply to property leased for a rent not exceeding the fair market rent and used as a primary residence. The limitation would take effect on the later of the effective date of the law imposing the limitation or January 1 of the tax year following the first tax year in which the property is leased. The amendment would be submitted to voters in the November 4, 2025 election.

Proposes a constitutional amendment to allow the Texas legislature to limit the maximum appraised value for ad valorem tax purposes of leased.

This bill proposes a constitutional amendment to authorize the Texas legislature to limit the maximum appraised value for ad valorem tax purposes of certain leased residential real property. The amendment would apply to property leased for a rent not exceeding the fair market rent and used as a primary residence. The limitation would take effect on the later of the effective date of the law imposing the limitation or January 1 of the tax year following the first tax year in which the property is leased. The amendment would be submitted to voters in the November 4, 2025 election.