88R2042 RDS-D     By: Bell of Montgomery H.J.R. No. 18       A JOINT RESOLUTION   proposing a constitutional amendment to authorize the legislature   to limit the maximum appraised value of real property for ad valorem   tax purposes.          BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Section 1(i), Article VIII, Texas Constitution,   is amended to read as follows:          (i)  Notwithstanding Subsections (a) and (b) of this   section, the Legislature by general law may limit the maximum   appraised value of real property [a residence homestead] for ad   valorem tax purposes in a tax year to the lesser of the most recent   market value of the property [residence homestead] as determined by   the appraisal entity or 105 [110] percent, or a greater percentage,   of the appraised value of the property [residence homestead] for   the preceding tax year. A limitation on appraised values   authorized by this subsection:                (1)  takes effect in the tax year following the first   tax year in which the owner owns the property on January 1 [as to a   residence homestead 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 the owner qualifies the property for an exemption   under Section 1-b of this article]; and                (2)  expires on January 1 of the [first] tax year   following the tax year in which [that neither] the owner of the   property when the limitation took effect ceases to own the   property, except that the Legislature by general law may provide   for the limitation applicable to a residence homestead to continue   during ownership of the property by [nor] the owner's spouse or   surviving spouse [qualifies for an exemption under Section 1-b of   this article].          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 limit the maximum appraised value of real property   for ad valorem tax purposes to 105 percent or more of the appraised   value of the property for the preceding tax year."