2009 election: proposed amendment 2

October 21, 11:46 PMHouston Conservative ExaminerLisa Stauber

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Texans will vote on 11 proposed amendments on Nov.3. This is the second in a series of articles taking a quick look at the proposals.

Information taken from the TX Legislative Council Analysis.

Text of Prop 2:

Section 1, Article VIII, Texas Constitution, requires taxation to be equal
and uniform and provides that all real and tangible personal property in
the state, unless exempt as constitutionally required or permitted, is to be taxed in proportion to its value. The proposed amendment would authorize
the legislature, by general law, to provide for the taxation of a residence homestead solely on the basis of its value as a residence homestead, regardless of whether residential use by the owner is considered to be the highest and best use of the property.

What does it mean?  It means that if you have a residence homestead, the property tax must be appraised as a homestead.  Even if the city determines that your house would be better used (and generate more taxes) as a commercial enterprise, it will still be taxed as a residence.

Proponents say it's about time.  Farms and open space already enjoy this protection against soaring property taxes. 

A residence homestead is a home or mobile home with fewer than 20 acres that is a primary home.  Second homes and investment properties don't count as residence homesteads.

Some people are against it, arguing it will lower revenues and the state may have to kick in extra funds for schools if too many homes are taxed as homesteads instead of "highest and best use."

My take?  A home should be taxed as a home, and lower taxes are a good thing.