Bill Text: TX HB4491 | 2023-2024 | 88th Legislature | Introduced
Bill Title: Relating to the treatment of certain improvements for the limitation on increases in the appraised value of a residence homestead for ad valorem tax purposes.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2023-03-21 - Referred to Ways & Means [HB4491 Detail]
Download: Texas-2023-HB4491-Introduced.html
| 88R13155 MLH-D | ||
| By: Harris of Williamson | H.B. No. 4491 | |
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| relating to the treatment of certain improvements for 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(e), Tax Code, is amended to read as | ||
| follows: | ||
| (e) In this section, "new improvement" means an improvement | ||
| to a residence homestead made after the most recent appraisal of the | ||
| property that increases the market value of the property and the | ||
| value of which is not included in the appraised value of the | ||
| property for the preceding tax year. The term does not include: | ||
| (1) repairs to or ordinary maintenance of an existing | ||
| structure or the grounds or another feature of the property; or | ||
| (2) an improvement made using money made available | ||
| under the HOME Investment Partnerships Program or another similar | ||
| program administered by the Texas Department of Housing and | ||
| Community Affairs that provides financial assistance for the repair | ||
| and reconstruction of owner-occupied housing. | ||
| SECTION 2. 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 3. This Act takes effect January 1, 2024. | ||
