| 1 | 1 | | 88R13155 MLH-D |
|---|
| 2 | 2 | | By: Harris of Williamson H.B. No. 4491 |
|---|
| 3 | 3 | | |
|---|
| 4 | 4 | | |
|---|
| 5 | 5 | | A BILL TO BE ENTITLED |
|---|
| 6 | 6 | | AN ACT |
|---|
| 7 | 7 | | relating to the treatment of certain improvements for the |
|---|
| 8 | 8 | | limitation on increases in the appraised value of a residence |
|---|
| 9 | 9 | | homestead for ad valorem tax purposes. |
|---|
| 10 | 10 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|---|
| 11 | 11 | | SECTION 1. Section 23.23(e), Tax Code, is amended to read as |
|---|
| 12 | 12 | | follows: |
|---|
| 13 | 13 | | (e) In this section, "new improvement" means an improvement |
|---|
| 14 | 14 | | to a residence homestead made after the most recent appraisal of the |
|---|
| 15 | 15 | | property that increases the market value of the property and the |
|---|
| 16 | 16 | | value of which is not included in the appraised value of the |
|---|
| 17 | 17 | | property for the preceding tax year. The term does not include: |
|---|
| 18 | 18 | | (1) repairs to or ordinary maintenance of an existing |
|---|
| 19 | 19 | | structure or the grounds or another feature of the property; or |
|---|
| 20 | 20 | | (2) an improvement made using money made available |
|---|
| 21 | 21 | | under the HOME Investment Partnerships Program or another similar |
|---|
| 22 | 22 | | program administered by the Texas Department of Housing and |
|---|
| 23 | 23 | | Community Affairs that provides financial assistance for the repair |
|---|
| 24 | 24 | | and reconstruction of owner-occupied housing. |
|---|
| 25 | 25 | | SECTION 2. This Act applies only to the appraisal for ad |
|---|
| 26 | 26 | | valorem tax purposes of residence homesteads for a tax year that |
|---|
| 27 | 27 | | begins on or after the effective date of this Act. |
|---|
| 28 | 28 | | SECTION 3. This Act takes effect January 1, 2024. |
|---|