Texas 2025 - 89th Regular

Texas House Bill HB203 Compare Versions

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Old	New	Differences
1	1	89R249 LHC-D
2	2	By: Goodwin H.B. No. 203
3	3
4	4
5	5
6	6
7	7	A BILL TO BE ENTITLED
8	8	AN ACT
9	9	relating to a limitation on increases in the appraised value for ad
10	10	valorem tax purposes of certain leased residential real property.
11	11	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
12	12	SECTION 1. Section 1.12(d), Tax Code, as effective until
13	13	January 1, 2027, is amended to read as follows:
14	14	(d) For purposes of this section, the appraisal ratio of
15	15	property to which Section 23.23, [or] 23.231, or 23.232 applies is
16	16	the ratio of the property's market value as determined by the
17	17	appraisal district or appraisal review board, as applicable, to the
18	18	market value of the property according to law. The appraisal ratio
19	19	is not calculated according to the appraised value of the property
20	20	as limited by Section 23.23, [or] 23.231, or 23.232.
21	21	SECTION 2. Section 1.12(d), Tax Code, as effective January
22	22	1, 2027, is amended to read as follows:
23	23	(d) For purposes of this section, the appraisal ratio of
24	24	property [a homestead] to which Section 23.23 or 23.232 applies is
25	25	the ratio of the property's market value as determined by the
26	26	appraisal district or appraisal review board, as applicable, to the
27	27	market value of the property according to law. The appraisal ratio
28	28	is not calculated according to the appraised value of the property
29	29	as limited by Section 23.23 or 23.232.
30	30	SECTION 3. Subchapter B, Chapter 23, Tax Code, is amended by
31	31	adding Section 23.232 to read as follows:
32	32	Sec. 23.232. LIMITATION ON APPRAISED VALUE OF CERTAIN
33	33	LEASED RESIDENTIAL REAL PROPERTY. (a) In this section:
34	34	(1) "Fair market rent" means the most recent
35	35	applicable fair market rent established by the United States
36	36	Department of Housing and Urban Development for the zip code in
37	37	which the property is located.
38	38	(2) "New improvement" means an improvement to real
39	39	property described by Subsection (b) made after the most recent
40	40	appraisal of the property that increases the market value of the
41	41	property and the value of which is not included in the appraised
42	42	value of the property for the preceding tax year. The term does not
43	43	include repairs to or ordinary maintenance of an existing structure
44	44	or the grounds or another feature of the property.
45	45	(b) This section applies only to real property that:
46	46	(1) is a single-family residential property leased to
47	47	a lessee and used by the lessee as a primary residence; and
48	48	(2) is leased to a lessee for a rent that does not
49	49	exceed the fair market rent.
50	50	(c) This section does not apply to property appraised under
51	51	Subchapter C, D, E, F, G, or H.
52	52	(d) Notwithstanding the requirements of Section 25.18 and
53	53	regardless of whether the appraisal office has appraised the
54	54	property and determined the market value of the property for the tax
55	55	year, an appraisal office may increase the appraised value of real
56	56	property described by Subsection (b) for a tax year to an amount not
57	57	to exceed the lesser of:
58	58	(1) the market value of the property for the most
59	59	recent tax year that the market value was determined by the
60	60	appraisal office; or
61	61	(2) the sum of:
62	62	(A) 10 percent of the appraised value of the
63	63	property for the preceding tax year;
64	64	(B) the appraised value of the property for the
65	65	preceding tax year; and
66	66	(C) the market value of all new improvements to
67	67	the property.
68	68	(e) If only part of a parcel of real property qualifies for
69	69	the limitation provided by Subsection (d), the limitation applies
70	70	only to that part of the parcel.
71	71	(f) When appraising real property described by Subsection
72	72	(b), the chief appraiser shall:
73	73	(1) appraise the property at its market value; and
74	74	(2) include in the appraisal records both the market
75	75	value of the property and the amount computed under Subsection
76	76	(d)(2).
77	77	(g) The limitation provided by Subsection (d) takes effect
78	78	as to a parcel or part of a parcel of real property described by
79	79	Subsection (b) on January 1 of the tax year following the first tax
80	80	year in which the owner of the property leases the property for an
81	81	amount described by Subsection (b). Except as provided by
82	82	Subsection (h), the limitation expires on January 1 of the tax year
83	83	following the first tax year in which the owner of the property
84	84	ceases to lease the property for an amount described by Subsection
85	85	(b).
86	86	(h) Notwithstanding Subsections (a)(2) and (d) and except
87	87	as provided by Subdivision (2) of this subsection, an improvement
88	88	to property that would otherwise constitute a new improvement is
89	89	not treated as a new improvement if the improvement is a replacement
90	90	structure for a structure that was rendered unusable by a casualty
91	91	or by wind or water damage. For purposes of appraising the property
92	92	under Subsection (d) in the tax year in which the structure would
93	93	have constituted a new improvement:
94	94	(1) the appraised value the property would have had in
95	95	the preceding tax year if the casualty or damage had not occurred is
96	96	considered to be the appraised value of the property for that year,
97	97	regardless of whether that appraised value exceeds the actual
98	98	appraised value of the property for that year as limited by
99	99	Subsection (d); and
100	100	(2) the replacement structure is considered to be a
101	101	new improvement only if:
102	102	(A) the square footage of the replacement
103	103	structure exceeds that of the replaced structure as that structure
104	104	existed before the casualty or damage occurred; or
105	105	(B) the exterior of the replacement structure is
106	106	of higher quality construction and composition than that of the
107	107	replaced structure.
108	108	(i) In this subsection, "disaster recovery program" means
109	109	the disaster recovery program administered by the General Land
110	110	Office or by a political subdivision of this state that is funded
111	111	with community development block grant disaster recovery money
112	112	authorized by federal law. Notwithstanding Subsection (h)(2), and
113	113	only to the extent necessary to satisfy the requirements of the
114	114	disaster recovery program, a replacement structure described by
115	115	that subdivision is not considered to be a new improvement if to
116	116	satisfy the requirements of the disaster recovery program it was
117	117	necessary that:
118	118	(1) the square footage of the replacement structure
119	119	exceed that of the replaced structure as that structure existed
120	120	before the casualty or damage occurred; or
121	121	(2) the exterior of the replacement structure be of
122	122	higher quality construction and composition than that of the
123	123	replaced structure.
124	124	(j) To receive a limitation under Subsection (d), a person
125	125	claiming the limitation must annually apply for the limitation by
126	126	filing an application with the chief appraiser of the appraisal
127	127	district. The chief appraiser shall accept and approve or deny an
128	128	application. For property appraised by more than one appraisal
129	129	district, a separate application must be filed in each appraisal
130	130	district to receive the limitation in that district.
131	131	(k) The comptroller, in prescribing the contents of the
132	132	application form for a limitation under Subsection (d), shall
133	133	ensure that the form requires an applicant to provide the
134	134	information necessary to determine the validity of the limitation
135	135	claim. The form must require an applicant to provide the
136	136	applicant's name and driver's license number, personal
137	137	identification certificate number, social security number, or
138	138	taxpayer identification number. The comptroller shall include on
139	139	the form a notice of the penalties prescribed by Section 37.10,
140	140	Penal Code, for making or filing an application containing a false
141	141	statement and shall include on the form a statement explaining that
142	142	the application must be made annually. In this subsection,
143	143	"driver's license" and "personal identification certificate" have
144	144	the meanings assigned by Section 11.43(f).
145	145	(l) To receive a limitation under Subsection (d) for a tax
146	146	year, a person must apply for the limitation not later than May 1 of
147	147	that year. Except as provided by Subsection (m), if the person
148	148	fails to timely file a completed application, the person may not
149	149	receive the limitation for that year.
150	150	(m) The chief appraiser shall accept and approve or deny an
151	151	application for a limitation under Subsection (d) for a tax year
152	152	after the deadline for filing the application has passed if the
153	153	application is filed not later than one year after the delinquency
154	154	date for the taxes on the property for that tax year. If a late
155	155	application is approved after approval of the appraisal records by
156	156	the appraisal review board, the chief appraiser shall notify the
157	157	collector for each taxing unit in which the property is located. If
158	158	the tax has not been paid, the collector shall deduct from the
159	159	person's tax bill the difference between the taxes that would have
160	160	been due had the property not qualified for the limitation and the
161	161	taxes due after taking the limitation into account. If the tax has
162	162	been paid, the collector shall refund the difference.
163	163	(n) This subsection expires January 1, 2030. For purposes
164	164	of applying the limitation provided by Subsection (d) in the first
165	165	tax year after the 2025 tax year in which the property is appraised
166	166	for taxation:
167	167	(1) the property is considered to have been appraised
168	168	for taxation in the 2025 tax year at a market value equal to the
169	169	appraised value of the property for that tax year; and
170	170	(2) a person who acquired real property described by
171	171	Subsection (b) in a tax year before the 2025 tax year is considered
172	172	to have acquired the property on January 1, 2025.
173	173	SECTION 4. Section 41.41(a), Tax Code, as effective until
174	174	January 1, 2027, is amended to read as follows:
175	175	(a) A property owner is entitled to protest before the
176	176	appraisal review board the following actions:
177	177	(1) determination of the appraised value of the
178	178	owner's property or, in the case of land appraised as provided by
179	179	Subchapter C, D, E, or H, Chapter 23, determination of its appraised
180	180	or market value;
181	181	(2) unequal appraisal of the owner's property;
182	182	(3) inclusion of the owner's property on the appraisal
183	183	records;
184	184	(4) denial to the property owner in whole or in part of
185	185	a partial exemption;
186	186	(4-a) determination that the owner's property does not
187	187	qualify for the circuit breaker limitation on appraised value
188	188	provided by Section 23.231;
189	189	(4-b) determination that the owner's property does not
190	190	qualify for the limitation on appraised value provided by Section
191	191	23.232;
192	192	(5) determination that the owner's land does not
193	193	qualify for appraisal as provided by Subchapter C, D, E, or H,
194	194	Chapter 23;
195	195	(6) identification of the taxing units in which the
196	196	owner's property is taxable in the case of the appraisal district's
197	197	appraisal roll;
198	198	(7) determination that the property owner is the owner
199	199	of property;
200	200	(8) a determination that a change in use of land
201	201	appraised under Subchapter C, D, E, or H, Chapter 23, has occurred;
202	202	or
203	203	(9) any other action of the chief appraiser, appraisal
204	204	district, or appraisal review board that applies to and adversely
205	205	affects the property owner.
206	206	SECTION 5. Section 41.41(a), Tax Code, as effective January
207	207	1, 2027, is amended to read as follows:
208	208	(a) A property owner is entitled to protest before the
209	209	appraisal review board the following actions:
210	210	(1) determination of the appraised value of the
211	211	owner's property or, in the case of land appraised as provided by
212	212	Subchapter C, D, E, or H, Chapter 23, determination of its appraised
213	213	or market value;
214	214	(2) unequal appraisal of the owner's property;
215	215	(3) inclusion of the owner's property on the appraisal
216	216	records;
217	217	(4) denial to the property owner in whole or in part of
218	218	a partial exemption;
219	219	(4-a) determination that the owner's property does not
220	220	qualify for the limitation on appraised value provided by Section
221	221	23.232;
222	222	(5) determination that the owner's land does not
223	223	qualify for appraisal as provided by Subchapter C, D, E, or H,
224	224	Chapter 23;
225	225	(6) identification of the taxing units in which the
226	226	owner's property is taxable in the case of the appraisal district's
227	227	appraisal roll;
228	228	(7) determination that the property owner is the owner
229	229	of property;
230	230	(8) a determination that a change in use of land
231	231	appraised under Subchapter C, D, E, or H, Chapter 23, has occurred;
232	232	or
233	233	(9) any other action of the chief appraiser, appraisal
234	234	district, or appraisal review board that applies to and adversely
235	235	affects the property owner.
236	236	SECTION 6. Section 42.26(d), Tax Code, as effective until
237	237	January 1, 2027, is amended to read as follows:
238	238	(d) For purposes of this section, the value of the property
239	239	subject to the suit and the value of a comparable property or sample
240	240	property that is used for comparison must be the market value
241	241	determined by the appraisal district when the property is subject
242	242	to the limitation on appraised value imposed by Section 23.23, [or]
243	243	23.231, or 23.232.
244	244	SECTION 7. Section 42.26(d), Tax Code, as effective January
245	245	1, 2027, is amended to read as follows:
246	246	(d) For purposes of this section, the value of the property
247	247	subject to the suit and the value of a comparable property or sample
248	248	property that is used for comparison must be the market value
249	249	determined by the appraisal district when the property is [a
250	250	residence homestead] subject to the limitation on appraised value
251	251	imposed by Section 23.23 or 23.232.
252	252	SECTION 8. Sections 403.302(d) and (i), Government Code, as
253	253	effective until January 1, 2027, are amended to read as follows:
254	254	(d) For the purposes of this section, "taxable value" means
255	255	the market value of all taxable property less:
256	256	(1) the total dollar amount of any residence homestead
257	257	exemptions lawfully granted under Section 11.13(b) or (c), Tax
258	258	Code, in the year that is the subject of the study for each school
259	259	district;
260	260	(2) one-half of the total dollar amount of any
261	261	residence homestead exemptions granted under Section 11.13(n), Tax
262	262	Code, in the year that is the subject of the study for each school
263	263	district;
264	264	(3) the total dollar amount of any exemptions granted
265	265	before May 31, 1993, within a reinvestment zone under agreements
266	266	authorized by Chapter 312, Tax Code;
267	267	(4) subject to Subsection (e), the total dollar amount
268	268	of any captured appraised value of property that:
269	269	(A) is within a reinvestment zone created on or
270	270	before May 31, 1999, or is proposed to be included within the
271	271	boundaries of a reinvestment zone as the boundaries of the zone and
272	272	the proposed portion of tax increment paid into the tax increment
273	273	fund by a school district are described in a written notification
274	274	provided by the municipality or the board of directors of the zone
275	275	to the governing bodies of the other taxing units in the manner
276	276	provided by former Section 311.003(e), Tax Code, before May 31,
277	277	1999, and within the boundaries of the zone as those boundaries
278	278	existed on September 1, 1999, including subsequent improvements to
279	279	the property regardless of when made;
280	280	(B) generates taxes paid into a tax increment
281	281	fund created under Chapter 311, Tax Code, under a reinvestment zone
282	282	financing plan approved under Section 311.011(d), Tax Code, on or
283	283	before September 1, 1999; and
284	284	(C) is eligible for tax increment financing under
285	285	Chapter 311, Tax Code;
286	286	(5) the total dollar amount of any captured appraised
287	287	value of property that:
288	288	(A) is within a reinvestment zone:
289	289	(i) created on or before December 31, 2008,
290	290	by a municipality with a population of less than 18,000; and
291	291	(ii) the project plan for which includes
292	292	the alteration, remodeling, repair, or reconstruction of a
293	293	structure that is included on the National Register of Historic
294	294	Places and requires that a portion of the tax increment of the zone
295	295	be used for the improvement or construction of related facilities
296	296	or for affordable housing;
297	297	(B) generates school district taxes that are paid
298	298	into a tax increment fund created under Chapter 311, Tax Code; and
299	299	(C) is eligible for tax increment financing under
300	300	Chapter 311, Tax Code;
301	301	(6) the total dollar amount of any exemptions granted
302	302	under Section 11.251 or 11.253, Tax Code;
303	303	(7) the difference between the comptroller's estimate
304	304	of the market value and the productivity value of land that
305	305	qualifies for appraisal on the basis of its productive capacity,
306	306	except that the productivity value estimated by the comptroller may
307	307	not exceed the fair market value of the land;
308	308	(8) the portion of the appraised value of residence
309	309	homesteads of individuals who receive a tax limitation under
310	310	Section 11.26, Tax Code, on which school district taxes are not
311	311	imposed in the year that is the subject of the study, calculated as
312	312	if the residence homesteads were appraised at the full value
313	313	required by law;
314	314	(9) a portion of the market value of property not
315	315	otherwise fully taxable by the district at market value because of
316	316	action required by statute or the constitution of this state, other
317	317	than Section 11.311, Tax Code, that, if the tax rate adopted by the
318	318	district is applied to it, produces an amount equal to the
319	319	difference between the tax that the district would have imposed on
320	320	the property if the property were fully taxable at market value and
321	321	the tax that the district is actually authorized to impose on the
322	322	property, if this subsection does not otherwise require that
323	323	portion to be deducted;
324	324	(10) the market value of all tangible personal
325	325	property, other than manufactured homes, owned by a family or
326	326	individual and not held or used for the production of income;
327	327	(11) the appraised value of property the collection of
328	328	delinquent taxes on which is deferred under Section 33.06, Tax
329	329	Code;
330	330	(12) the portion of the appraised value of property
331	331	the collection of delinquent taxes on which is deferred under
332	332	Section 33.065, Tax Code;
333	333	(13) the amount by which the market value of property
334	334	to which Section 23.23, [or] 23.231, or 23.232, Tax Code, applies
335	335	exceeds the appraised value of that property as calculated under
336	336	Section 23.23, [or] 23.231, or 23.232, Tax Code, as applicable; and
337	337	(14) the total dollar amount of any exemptions granted
338	338	under Section 11.35, Tax Code.
339	339	(i) If the comptroller determines in the study that the
340	340	market value of property in a school district as determined by the
341	341	appraisal district that appraises property for the school district,
342	342	less the total of the amounts and values listed in Subsection (d) as
343	343	determined by that appraisal district, is valid, the comptroller,
344	344	in determining the taxable value of property in the school district
345	345	under Subsection (d), shall for purposes of Subsection (d)(13)
346	346	subtract from the market value as determined by the appraisal
347	347	district of properties to which Section 23.23, [or] 23.231, or
348	348	23.232, Tax Code, applies the amount by which that amount exceeds
349	349	the appraised value of those properties as calculated by the
350	350	appraisal district under Section 23.23, [or] 23.231, or 23.232, Tax
351	351	Code, as applicable. If the comptroller determines in the study
352	352	that the market value of property in a school district as determined
353	353	by the appraisal district that appraises property for the school
354	354	district, less the total of the amounts and values listed in
355	355	Subsection (d) as determined by that appraisal district, is not
356	356	valid, the comptroller, in determining the taxable value of
357	357	property in the school district under Subsection (d), shall for
358	358	purposes of Subsection (d)(13) subtract from the market value as
359	359	estimated by the comptroller of properties to which Section 23.23,
360	360	[or] 23.231, or 23.232, Tax Code, applies the amount by which that
361	361	amount exceeds the appraised value of those properties as
362	362	calculated by the appraisal district under Section 23.23, [or]
363	363	23.231, or 23.232, Tax Code, as applicable.
364	364	SECTION 9. Sections 403.302(d) and (i), Government Code, as
365	365	effective January 1, 2027, are amended to read as follows:
366	366	(d) For the purposes of this section, "taxable value" means
367	367	the market value of all taxable property less:
368	368	(1) the total dollar amount of any residence homestead
369	369	exemptions lawfully granted under Section 11.13(b) or (c), Tax
370	370	Code, in the year that is the subject of the study for each school
371	371	district;
372	372	(2) one-half of the total dollar amount of any
373	373	residence homestead exemptions granted under Section 11.13(n), Tax
374	374	Code, in the year that is the subject of the study for each school
375	375	district;
376	376	(3) the total dollar amount of any exemptions granted
377	377	before May 31, 1993, within a reinvestment zone under agreements
378	378	authorized by Chapter 312, Tax Code;
379	379	(4) subject to Subsection (e), the total dollar amount
380	380	of any captured appraised value of property that:
381	381	(A) is within a reinvestment zone created on or
382	382	before May 31, 1999, or is proposed to be included within the
383	383	boundaries of a reinvestment zone as the boundaries of the zone and
384	384	the proposed portion of tax increment paid into the tax increment
385	385	fund by a school district are described in a written notification
386	386	provided by the municipality or the board of directors of the zone
387	387	to the governing bodies of the other taxing units in the manner
388	388	provided by former Section 311.003(e), Tax Code, before May 31,
389	389	1999, and within the boundaries of the zone as those boundaries
390	390	existed on September 1, 1999, including subsequent improvements to
391	391	the property regardless of when made;
392	392	(B) generates taxes paid into a tax increment
393	393	fund created under Chapter 311, Tax Code, under a reinvestment zone
394	394	financing plan approved under Section 311.011(d), Tax Code, on or
395	395	before September 1, 1999; and
396	396	(C) is eligible for tax increment financing under
397	397	Chapter 311, Tax Code;
398	398	(5) the total dollar amount of any captured appraised
399	399	value of property that:
400	400	(A) is within a reinvestment zone:
401	401	(i) created on or before December 31, 2008,
402	402	by a municipality with a population of less than 18,000; and
403	403	(ii) the project plan for which includes
404	404	the alteration, remodeling, repair, or reconstruction of a
405	405	structure that is included on the National Register of Historic
406	406	Places and requires that a portion of the tax increment of the zone
407	407	be used for the improvement or construction of related facilities
408	408	or for affordable housing;
409	409	(B) generates school district taxes that are paid
410	410	into a tax increment fund created under Chapter 311, Tax Code; and
411	411	(C) is eligible for tax increment financing under
412	412	Chapter 311, Tax Code;
413	413	(6) the total dollar amount of any exemptions granted
414	414	under Section 11.251 or 11.253, Tax Code;
415	415	(7) the difference between the comptroller's estimate
416	416	of the market value and the productivity value of land that
417	417	qualifies for appraisal on the basis of its productive capacity,
418	418	except that the productivity value estimated by the comptroller may
419	419	not exceed the fair market value of the land;
420	420	(8) the portion of the appraised value of residence
421	421	homesteads of individuals who receive a tax limitation under
422	422	Section 11.26, Tax Code, on which school district taxes are not
423	423	imposed in the year that is the subject of the study, calculated as
424	424	if the residence homesteads were appraised at the full value
425	425	required by law;
426	426	(9) a portion of the market value of property not
427	427	otherwise fully taxable by the district at market value because of
428	428	action required by statute or the constitution of this state, other
429	429	than Section 11.311, Tax Code, that, if the tax rate adopted by the
430	430	district is applied to it, produces an amount equal to the
431	431	difference between the tax that the district would have imposed on
432	432	the property if the property were fully taxable at market value and
433	433	the tax that the district is actually authorized to impose on the
434	434	property, if this subsection does not otherwise require that
435	435	portion to be deducted;
436	436	(10) the market value of all tangible personal
437	437	property, other than manufactured homes, owned by a family or
438	438	individual and not held or used for the production of income;
439	439	(11) the appraised value of property the collection of
440	440	delinquent taxes on which is deferred under Section 33.06, Tax
441	441	Code;
442	442	(12) the portion of the appraised value of property
443	443	the collection of delinquent taxes on which is deferred under
444	444	Section 33.065, Tax Code;
445	445	(13) the amount by which the market value of property
446	446	[a residence homestead] to which Section 23.23 or 23.232, Tax Code,
447	447	applies exceeds the appraised value of that property as calculated
448	448	under Section 23.23 or 23.232, Tax Code, as applicable [that
449	449	section]; and
450	450	(14) the total dollar amount of any exemptions granted
451	451	under Section 11.35, Tax Code.
452	452	(i) If the comptroller determines in the study that the
453	453	market value of property in a school district as determined by the
454	454	appraisal district that appraises property for the school district,
455	455	less the total of the amounts and values listed in Subsection (d) as
456	456	determined by that appraisal district, is valid, the comptroller,
457	457	in determining the taxable value of property in the school district
458	458	under Subsection (d), shall for purposes of Subsection (d)(13)
459	459	subtract from the market value as determined by the appraisal
460	460	district of properties [residence homesteads] to which Section
461	461	23.23 or 23.232, Tax Code, applies the amount by which that amount
462	462	exceeds the appraised value of those properties as calculated by
463	463	the appraisal district under Section 23.23 or 23.232, Tax Code, as
464	464	applicable. If the comptroller determines in the study that the
465	465	market value of property in a school district as determined by the
466	466	appraisal district that appraises property for the school district,
467	467	less the total of the amounts and values listed in Subsection (d) as
468	468	determined by that appraisal district, is not valid, the
469	469	comptroller, in determining the taxable value of property in the
470	470	school district under Subsection (d), shall for purposes of
471	471	Subsection (d)(13) subtract from the market value as estimated by
472	472	the comptroller of properties [residence homesteads] to which
473	473	Section 23.23 or 23.232, Tax Code, applies the amount by which that
474	474	amount exceeds the appraised value of those properties as
475	475	calculated by the appraisal district under Section 23.23 or 23.232,
476	476	Tax Code, as applicable.
477	477	SECTION 10. This Act applies only to the appraisal of
478	478	residential real property for ad valorem tax purposes for a tax year
479	479	that begins on or after the effective date of this Act.
480	480	SECTION 11. This Act takes effect January 1, 2026, but only
481	481	if the constitutional amendment proposed by the 89th Legislature,
482	482	Regular Session, 2025, to authorize the legislature to provide for
483	483	a limitation on the maximum appraised value for ad valorem tax
484	484	purposes of certain leased residential real property is approved by
485	485	the voters. If that amendment is not approved by the voters, this
486	486	Act has no effect.