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 (HJR 20) that would allow the Texas legislature to set a lower limit on the maximum appraised value used to calculate property taxes for primary residences (homesteads). Specifically, it would authorize capping the appraised value at 102% (or a higher percentage) of the previous year's value, rather than the full market value. This change would apply only to properties already qualifying for the homestead exemption and would expire if the owner no longer qualifies for that exemption. The amendment requires voter approval in the May 2, 2026 election.