Bill Text: TX SB118 | 2017 | 85th Legislature 1st 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) 2017-08-04 - Filed [SB118 Detail]

Download: Texas-2017-SB118-Introduced.html
  85S10067 TJB-D
 
  By: Kolkhorst S.B. No. 118
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  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)  five [10] percent of the appraised value of
  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, 2018, but only
  if the constitutional amendment proposed by the 85th Legislature,
  1st Called Session, 2017, 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.
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