Proposing a constitutional amendment to authorize the legislature to set a lower limit on the maximum appraised value of a residence homestead for ad valorem taxation.

This bill proposes a constitutional amendment (SJR 21) that would allow the Texas legislature to set a lower annual cap on how much a homestead property's taxable value can increase for property tax purposes. It would authorize the legislature to limit the maximum appraised value to 105% or 110% of the previous year's value (instead of the full market value), directly affecting homeowners who qualify for Texas homestead exemptions under Article VIII, Section 1-b. The cap would take effect the year after eligibility begins and expire if the homeowner no longer qualifies for the exemption. The amendment requires voter approval in the November 2025 election.