Bill Text: TX HB2597 | 2023-2024 | 88th Legislature | Introduced
Bill Title: Relating to the limitation on increases in the appraised value of a residence homestead for ad valorem tax purposes.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2023-03-13 - Referred to Ways & Means [HB2597 Detail]
Download: Texas-2023-HB2597-Introduced.html
88R12365 MLH-F | ||
By: Davis | H.B. No. 2597 |
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relating to the limitation on increases in the appraised value of a | ||
residence homestead for ad valorem tax purposes. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 23.23(a), Tax Code, is amended to read as | ||
follows: | ||
(a) Notwithstanding the requirements of Section 25.18 and | ||
regardless of whether the appraisal office has appraised the | ||
property and determined the market value of the property for the tax | ||
year, an appraisal office may increase the appraised value of a | ||
residence homestead for a tax year to an amount not to exceed the | ||
lesser of: | ||
(1) the market value of the property for the most | ||
recent tax year that the market value was determined by the | ||
appraisal office; or | ||
(2) the sum of: | ||
(A) 10 percent of the appraised value of the | ||
property for the preceding tax year; and | ||
(B) the appraised value of the property for the | ||
preceding tax year[ |
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SECTION 2. Sections 23.23(e), (f), and (g), Tax Code, are | ||
repealed. | ||
SECTION 3. This Act applies only to the appraisal for ad | ||
valorem tax purposes of residence homesteads for a tax year that | ||
begins on or after the effective date of this Act. | ||
SECTION 4. This Act takes effect January 1, 2024. |