Proposes a constitutional amendment modifying provisions governing the taxation of real property

HJR 150 proposes a constitutional amendment that would limit local governments' ability to increase property tax rates without voter approval. It prohibits counties or cities from raising existing property tax rates above current levels without voter consent, and requires automatic tax reductions if property value increases outpace inflation (to maintain the same revenue). The amendment also excludes taxes for bond payments or debt obligations from these limits. This directly affects local governments and property owners by changing how property tax rates can be adjusted based on property values and inflation.