Bill Text: TX HB31 | 2023 | 88th Legislature 2nd Special Session | Introduced
Bill Title: Relating to the limitation on increases in the appraised value of a residence homestead for ad valorem taxation.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2023-06-27 - Filed [HB31 Detail]
Download: Texas-2023-HB31-Introduced.html
| By: Tepper | H.B. No. 31 | |
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| relating to the limitation on increases in the appraised value of a | ||
| residence homestead for ad valorem taxation. | ||
| 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) 2.5 [ |
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| the property for the preceding tax year; | ||
| (B) the appraised value of the property for the | ||
| preceding tax year; and | ||
| (C) the market value of all new improvements to | ||
| the property. | ||
| SECTION 2. This Act applies only to the appraisal for ad | ||
| valorem taxation of residence homesteads for a tax year that begins | ||
| on or after the effective date of this Act. | ||
| SECTION 3. This Act takes effect January 1, 2024, but only | ||
| if the constitutional amendment proposed by the 88th Legislature, | ||
| 2nd Called Session, 2023, to authorize the legislature to set a | ||
| lower limit on the maximum appraised value of a residence homestead | ||
| for ad valorem taxation is approved by the voters. If that | ||
| amendment is not approved by the voters, this Act has no effect. | ||
