Proposing a constitutional amendment to allow the Texas legislature to set a lower limit on the maximum appraised value of a residence homestead for.

This bill proposes a constitutional amendment to authorize the Texas legislature to set a lower limit on the maximum appraised value of a residence homestead for ad valorem taxation. The amendment would allow the legislature to limit the appraised value to the lesser of the most recent market value or a percentage of the previous year's appraised value. This limitation would take effect on the later of the law's effective date or January 1 of the tax year following the first year the owner qualifies for an exemption.

Proposing a constitutional amendment to allow the Texas legislature to set a lower limit on the maximum appraised value of a residence homestead for.

This bill proposes a constitutional amendment to authorize the Texas legislature to set a lower limit on the maximum appraised value of a residence homestead for ad valorem taxation. The amendment would allow the legislature to limit the appraised value to the lesser of the most recent market value or a percentage of the previous year's appraised value. This limitation would take effect on the later of the law's effective date or January 1 of the tax year following the first year the owner qualifies for an exemption.