HJR30 - Proposing a constitutional amendment to authorize the legislature to provide for a limitation on the maximum appraised value for ad valorem tax purposes of certain leased residential real property.

  89R250 LHC-D     By: Goodwin H.J.R. No. 30       A JOINT RESOLUTION   proposing a constitutional amendment to authorize the legislature   to provide for a limitation on the maximum appraised value for ad   valorem tax purposes of certain leased residential real property.          BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Section 1, Article VIII, Texas Constitution, is   amended by adding Subsection (k) to read as follows:           (k)     This subsection applies only to real property that is a   single-family residential property leased to a lessee and used by   the lessee as a primary residence and that is leased to the lessee   for a rent that does not exceed the fair market   rent.     Notwithstanding Subsections (a) and (b) of this section, the   Legislature by general law may limit the maximum appraised value of   such 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 110 percent, or a greater percentage, of   the appraised value of the property for the preceding tax year.   The   general law enacted under this subsection may prescribe additional   eligibility requirements for the limitation on appraised values   authorized by this subsection. A limitation on appraised values   authorized by this subsection:                 (1)     takes effect as to 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 of the property leases the property for an   amount described by this subsection; and                 (2)     expires on January 1 of the tax year following the   first tax year in which the owner of the property ceases to lease   the property for an amount described by this subsection.          SECTION 2.  This proposed constitutional amendment shall be   submitted to the voters at an election to be held November 4, 2025.   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 for ad valorem tax   purposes of certain leased residential real property to 110 percent   or more of the appraised value of the property for the preceding tax   year."