Committee backs sending lower assessed‑value growth cap to voters

Pro Tem Paxton asked the committee to refer SJR 39 to the ballot, saying the measure would slow the future growth of property tax assessments by lowering the constitutional cap from 3% to 1% for homestead and agricultural property and from 5% to 3% for other property.

The author said the change would not cut current revenue but would limit how fast assessed values may rise year‑to‑year, helping homeowners—particularly long‑time owners—avoid compounding increases that can force residents from their homes. "This is an effort to slow the growth," Paxton said, adding the measure must go to a public vote as a constitutional amendment.

Senators pressed the author on likely effects. Senator Bullard asked whether the change would lower current taxes or merely slow future growth; the author replied it slows future growth and is not an immediate tax cut. Several senators raised concerns about seniors and long‑term homeowners versus first‑time buyers, with one warning that identical homes could be taxed differently depending on purchase date.

Critics framed the proposal as a structural constraint on local revenue. A committee critic said, "When assessed values lag behind reality, revenue for schools, counties, fire departments, libraries, and roads lags too," and argued that lowering the cap could worsen underinvestment in public services. The critic also said the measure "doesn't target relief to seniors on fixed incomes" in its current form.

The committee concluded debate and moved to a roll call. The committee chair declared SJR 39 passed on the committee's vote and ordered it referred as a state question to the people for approval or rejection.

Procedural note: the transcript records the committee's roll call outcome as 16 ayes and 2 nays on the motion to pass the measure from committee.