Proposed Constitutional Amendment to Ban Taxes on Tangible Personal Property

Original title: Prohibition on Levying Ad Valorem Taxes on Tangible Personal Property

March 13, 2026

Companion · HB 1277same policy, House version Companion · HJR 1275same policy, House version

taxes property tax constitutional amendment local government personal property

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The Frame

What this does

This bill would permanently eliminate a revenue stream for local governments and school districts by prohibiting the taxation of , potentially impacting local budgets and tax rates.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

Local governments

These entities would lose the authority to collect ad valorem taxes on tangible personal property, requiring adjustments to their revenue structures.

School districts

These entities would be prohibited from levying taxes on tangible personal property, impacting their funding sources.

Business owners

Businesses that currently pay ad valorem taxes on their tangible personal property would no longer be subject to these specific taxes if the amendment passes.

What changed

Last recorded activity March 13, 2026.

What's next

Introduced.

Summary

SJR 550 proposes an amendment to the State Constitution to prohibit counties, school districts, and municipalities from levying es on . If passed, this would remove the authority of local governments to tax items such as business equipment, machinery, and other non-real estate physical assets.

Why It Matters

This bill would permanently eliminate a revenue stream for local governments and school districts by prohibiting the taxation of , potentially impacting local budgets and tax rates.

Key Facts

You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.

Frequently Asked Questions

What is 'tangible personal property'?

In a tax context, this typically refers to physical assets used in business or trade, such as machinery, equipment, furniture, and inventory, as opposed to real estate (land and buildings).

Does this bill immediately stop me from paying these taxes?

No. As a proposed constitutional amendment, it must first be approved by the legislature and subsequently ratified by voters before it can take effect.

News Coverage

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Related Legislation

State Bill75% related

Proposed Constitutional Amendment to Remove Local Property Tax Authority

House Joint Resolution 787 proposes an amendment to the State Constitution that would strip counties and school districts of their power to levy ad va