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

SJR 25 proposes a constitutional amendment to exempt all tangible personal property (such as vehicles, equipment, and furniture) from ad valorem property taxes in Texas, effective January 1, 2026. The amendment would remove current tax obligations for most tangible personal property, with one key exception: property with existing tax pledges for debt payments (e.g., vehicle loans) could continue to be taxed until those debts are paid, if stopping the tax would breach a contract. This change requires voter approval in the November 2025 election and would repeal several existing constitutional provisions related to property taxation. The amendment applies only to taxes imposed on or after January 1, 2026.