Proposing a constitutional amendment to allow the Texas legislature to limit the maximum appraised value of a residence homestead for ad valorem tax.

This bill proposes a constitutional amendment to authorize the Texas legislature to continue limiting the maximum appraised value of a residence homestead for ad valorem tax purposes if the property is acquired by and qualifies as the homestead of an heir of the owner or the owner's spouse or surviving spouse. The amendment would allow the legislature to set the maximum appraised value at the lesser of the most recent market value or 110 percent, or a greater percentage, of the appraised value of the residence homestead for the preceding tax year.

Proposing a constitutional amendment to allow the Texas legislature to limit the maximum appraised value of a residence homestead for ad valorem tax.

This bill proposes a constitutional amendment to authorize the Texas legislature to continue limiting the maximum appraised value of a residence homestead for ad valorem tax purposes if the property is acquired by and qualifies as the homestead of an heir of the owner or the owner's spouse or surviving spouse. The amendment would allow the legislature to set the maximum appraised value at the lesser of the most recent market value or 110 percent, or a greater percentage, of the appraised value of the residence homestead for the preceding tax year.