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Proposing a constitutional amendment authorizing the legislature
to provide for a temporary local option 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.
HJR 34 proposes an amendment to the Texas Constitution to create a temporary local-option property tax exemption for property that is damaged in a disaster. In order to be exempted, the property would need to be located in an area declared a disaster area by the Governor. The legislature would be permitted to prescribe the method for determining the amount and duration of the exemption. The enabling legislation is HB 492.
While we generally do not support targeted tax exemptions, we support HJR 34 because it would ensure that, in areas where the local option is exercised, 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 HJR 34.