To amend the state Constitution allowing the Legislature to provide a $50,000 value property tax homestead exemption for principle residences. The Legislature would be able to place restrictions as necessary. This resolution would amend the state Constitution if approved by two-thirds of the Legislature and a majority of the voters in the next general election.   Official Text and Analysis.

To remove the requirement that the property be the owner's primary residence to qualify. Homestead exemptions can be up to $75,000 of valuation of residential property. It is added that the homestead exemption only applies to the state portion of the property tax. This constitutional amendment is implemented by SB 5187 (2007).