The proposed joint resolution, H.J.R. No. 39, 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 appraised value for subsequent tax years to the previous year's appraised value plus the market value of any new improvements made to the property.

This constitutional amendment will be presented to voters in an election scheduled for May 2, 2026. The ballot will include a proposition allowing voters to express their support or opposition to the amendment, which is designed to provide clarity and stability in property tax assessments for homeowners qualifying for a homestead exemption.