Proposing a constitutional amendment exempting tangible personal property from ad valorem taxation.

HJR 171 proposes a constitutional amendment to exempt all tangible personal property (like cars, boats, furniture, and equipment) from ad valorem taxation in Texas, effective January 1, 2026. It directly affects property owners and businesses that currently pay taxes on such items, with one key exception: property with an existing tax pledge for debt repayment before January 1, 2026, may continue to be taxed until the debt is paid. The amendment requires voter approval in the November 2025 election and includes a temporary provision expiring January 1, 2027. This change would eliminate a long-standing tax on physical personal property, shifting the tax burden to other areas.