88R1146 TJB-D     By: Davis H.J.R. No. 71       A JOINT RESOLUTION   proposing a constitutional amendment to authorize the legislature   to provide for limitations on the appraised value of certain real   property in specified areas for ad valorem tax purposes.          BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Article VIII, Texas Constitution, is amended by   adding Sections 1-a-1 and 1-a-2 to read as follows:          Sec. 1-a-1.  (a) Notwithstanding Sections 1(a) and (b) of   this article and Section 56, Article III, of this constitution, the   legislature by local law may authorize the governing body of one or   more political subdivisions to adopt a temporary limitation on the   appraised value for taxation by the political subdivision of one or   more types of real property located in certain areas specified by   law. Property subject to the limitation shall be taxed at the   lesser of the appraised value of the property as otherwise   determined by law or the appraised value of the property for the tax   year preceding the tax year in which the limitation first applies.          (b)  A law enacted under this section:                (1)  must specify one or more areas to which the   appraisal limitation authorized by this section applies;                (2)  must prescribe the period for which the limitation   applies, which may not be longer than 15 consecutive tax years;                (3)  must prescribe the types of real property to which   the limitation applies;                (4)  may prescribe additional eligibility requirements   for the limitation; and                (5)  may prescribe procedures for the administration of   the limitation.          (c)  Section 57, Article III, Texas Constitution, does not   apply to a local law authorized by this section.          (d)  This section expires January 1, 2040.          Sec. 1-a-2.  (a) Notwithstanding Sections 1(a) and (b) of   this article and Section 56, Article III, of this constitution, the   legislature by local law may limit the maximum appraised value of a   rapidly appreciating residence homestead located in certain areas   specified by law 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 to the appraised value of the property   for the 2017 tax year.          (b)  A limitation on appraised values authorized by this   section:                (1)  takes effect as to a rapidly appreciating   residence homestead on the effective date of the law imposing the   limitation; and                (2)  expires on January 1 of the first tax year that   neither the owner of the property when the limitation took effect   nor the owner's spouse or surviving spouse qualifies for an   exemption under Section 1-b of this article.          (c)  A law enacted under this section:                (1)  must specify one or more areas to which the   appraisal limitation authorized by this section applies;                (2)  must define "rapidly appreciating residence   homestead"; and                (3)  may prescribe additional eligibility requirements   for the limitation.          (d)  Section 57, Article III, Texas Constitution, does not   apply to a local law authorized by this section.          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 permit voting for or against the   proposition: "The constitutional amendment to authorize the   legislature to provide for limitations on the appraised value of   certain real property in specified areas for ad valorem tax   purposes."