Opinion No.

Honorable William P. Hobby Lieutenant Governor of Texas State Capitol Austin, Texas

Honorable Bill Clayton Speaker of the House State Capitol Austin, Texas

Re: Valuation of property for ad valorem taxation purposes.

Dear Governor Hobby and Speaker Clayton:

You have asked our opinion on four questions relating to ad valorem taxation and the distribution of funds for public school purposes.

Your first question is:

May the Legislature, in exercising its duty under Article 8, Section 1, of the Texas Constitution, to provide by law how value is to be ascertained for ad valorem tax purposes,…