Proposing a constitutional amendment to authorize the legislature to limit the maximum appraised value of certain commercial real property for ad valorem tax purposes.

This proposed constitutional amendment would allow Texas lawmakers to limit how much commercial property owners pay in annual property taxes. It would authorize the legislature to set a cap at 110% (or a higher percentage) of a property's previous year's appraised value for commercial real estate meeting specific eligibility criteria. The cap would apply only to properties with a market value below a legislated threshold and would expire if ownership changes or the property ceases to be commercial. The amendment must be approved by voters in November 2025 before such tax limits could be enacted.