| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | 89R5610 MLH-D | |
| 2 | 2 | By: Turner H.B. No. 3235 | |
| 3 | 3 | ||
| 4 | 4 | ||
| 5 | 5 | ||
| 6 | 6 | ||
| 7 | 7 | A BILL TO BE ENTITLED | |
| 8 | 8 | AN ACT | |
| 9 | 9 | relating to the limitation on increases in the appraised value of a | |
| 10 | 10 | residence homestead for ad valorem tax purposes. | |
| 11 | 11 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 12 | 12 | SECTION 1. Section 23.23(a), Tax Code, is amended to read as | |
| 13 | 13 | follows: | |
| 14 | 14 | (a) Notwithstanding the requirements of Section 25.18 and | |
| 15 | 15 | regardless of whether the appraisal office has appraised the | |
| 16 | 16 | property and determined the market value of the property for the tax | |
| 17 | 17 | year, [an appraisal office may increase] the appraised value of a | |
| 18 | 18 | residence homestead for a tax year is equal to [an amount not to | |
| 19 | 19 | exceed] the lesser of: | |
| 20 | 20 | (1) the market value of the property for the most | |
| 21 | 21 | recent tax year that the market value was determined by the | |
| 22 | 22 | appraisal office; or | |
| 23 | 23 | (2) the sum of: | |
| 24 | 24 | (A) 10 percent of the appraised value of the | |
| 25 | 25 | property for the preceding tax year; | |
| 26 | 26 | (B) the appraised value of the property for the | |
| 27 | 27 | preceding tax year; and | |
| 28 | 28 | (C) the market value of all new improvements to | |
| 29 | 29 | the property. | |
| 30 | 30 | SECTION 2. This Act applies only to the appraisal for ad | |
| 31 | 31 | valorem tax purposes of residence homesteads for a tax year that | |
| 32 | 32 | begins on or after the effective date of this Act. | |
| 33 | 33 | SECTION 3. This Act takes effect January 1, 2026. |