HJR 147 seeks to amend the Texas Constitution to limit the maximum appraised value for ad valorem tax purposes on residential properties leased to elderly individuals (65 years or older). The amendment allows the Legislature to cap the annual increase in appraised value to 110% or a higher percentage of the previous year's value for properties leased to seniors at fair market rent. The cap would apply as long as the property is leased under the specified conditions and would expire if the lease arrangement no longer meets the criteria. The measure will be submitted for voter approval in the November 4, 2025, election​.