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 maximum appraised value to the lesser of the most recent market value or a percentage of the previous year's appraised value. The amendment would take effect on the later of the law's effective date or the date the owner qualifies for an exemption, and would expire when neither the owner nor the owner's spouse 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 maximum appraised value to the lesser of the most recent market value or a percentage of the previous year's appraised value. The amendment would take effect on the later of the law's effective date or the date the owner qualifies for an exemption, and would expire when neither the owner nor the owner's spouse qualifies for an exemption.