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

This bill proposes a constitutional amendment that would allow the Texas legislature to cap the annual increase in property tax appraisals for homesteads (primary residences) at 105% of the previous year's value, rather than using full market value. It directly affects homeowners with homestead properties by potentially limiting how much their property taxes could rise each year. The key provision would let the legislature set this 105% cap through general law, with the limitation taking effect the year after the law is enacted and expiring if the owner sells the property or no longer qualifies for homestead exemption. The amendment requires voter approval in a 2026 election. It does not change current tax rates but modifies how appraised values are calculated for tax purposes.