Proposing a constitutional amendment to authorize the legislature to set lower limits on the maximum appraised value of residence homesteads and of real property other than a residence homestead for ad valorem tax purposes and to make permanent the limit on the maximum appraised value of real property other than a residence homestead.

This bill proposes a constitutional amendment to allow the Texas legislature to set lower limits on the appraised value used for property taxes on both primary homes (residence homesteads) and other real property. Currently, homesteads have a 102.5% limit and other property has a 108% limit; this amendment would let the legislature establish lower percentages for both. If approved by voters in 2026, it would also make the 108% limit for non-homestead property permanent. The change would directly affect homeowners and property owners by potentially reducing their taxable value for local property tax calculations.