The proposed joint resolution seeks to amend the Texas Constitution to allow the legislature to establish that the appraised value of a residence homestead for ad valorem tax purposes will be based on the market value of the property during the first tax year the owner qualifies for a homestead exemption. If the property was purchased, the purchase price will be considered the market value for that initial tax year. Additionally, the resolution aims to limit the increase in the appraised value of the homestead for subsequent tax years, taking into account the market value of any new improvements made to the property.

If passed, this constitutional amendment would be presented to voters in an election scheduled for November 4, 2025. The ballot will include a proposition allowing voters to express their support or opposition to the amendment, which aims to provide clarity and fairness in the assessment of property taxes for new homeowners while also ensuring that increases in property taxes remain manageable in the years following the initial assessment.