88R2351 RDS-D     By: Kolkhorst S.J.R. No. 19       A JOINT RESOLUTION   proposing a constitutional amendment to authorize the legislature   to establish a limit on the maximum appraised value of real property   other than a residence homestead for ad valorem tax purposes.          BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Section 1, Article VIII, Texas Constitution, is   amended by adding Subsection (n) to read as follows:          (n)  This subsection does not apply to a residence homestead   to which Subsection (i) of this section applies. Notwithstanding   Subsections (a) and (b) of this section, the Legislature by general   law may limit the maximum appraised value of real property for ad   valorem tax purposes in a tax year to the lesser of the most recent   market value of the property as determined by the appraisal entity   or 120 percent, or a greater percentage, of the appraised value of   the property for the preceding tax year. A limitation on appraised   values authorized by this subsection:                (1)  takes effect as to a parcel of real property   described by this subsection 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 owner owns the property on   January 1; and                (2)  expires on January 1 of the tax year following the   tax year in which the owner of the property ceases to own the   property.          SECTION 2.  This proposed constitutional amendment shall be   submitted to the voters at an election to be held November 7, 2023.   The ballot shall be printed to provide for voting for or against the   proposition: "The constitutional amendment to authorize the   legislature to establish a limit on the maximum appraised value of   real property other than a residence homestead for ad valorem tax   purposes of 120 percent or more of the appraised value of the   property for the preceding tax year."