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Proposing a constitutional amendment authorizing the legislature
to provide for a temporary exemption from ad valorem taxation of a
portion of the appraised value of certain property damaged by a
disaster.
No fiscal implication to the State is anticipated, other than the cost of publication. Any
additional fiscal implication would be attributable to the corresponding enabling legislation.
The cost to the state for publication of the resolution is $177,289.
SJR 57 proposes a constitutional amendment authorizing the legislature to provide for a temporary exemption from taxation for a portion of the appraised value of certain qualified property. Qualified property would consist of personal property used for production of income, or an improvement on real property, located in a disaster area which was at least 15% damaged from a disaster as determined by the chief appraiser.
While we generally do not support targeted tax exemptions, we support SJR 57 because it would ensure that tax on a disaster damaged property would be based on the value of the property while it is in its damaged condition rather than the value prior to the damage. This supports limited government and property rights. We support SJR 57 and its enabling legislation, SB 1772.
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