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 of a residence homestead for tax purposes to the lesser of the most recent market value or a specified percentage of the previous year's appraised value. The limitation would take effect on the later of the effective date of the law or the date 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 maximum appraised value of a residence homestead for tax purposes to the lesser of the most recent market value or a specified percentage of the previous year's appraised value. The limitation would take effect on the later of the effective date of the law or the date the owner qualifies for an exemption.