TX HB1430

Caps annual appraised value increases at 20% for commercial real property held or used for income production, with a market value of $10 million or less

Limitation takes effect January 1 of the tax year following the owner's first year of ownership and expires when the property is sold or no longer used for income production

Owners who acquired qualifying property before 2025 are treated as having acquired it on January 1, 2025, for purposes of the limitation

Replacement structures rebuilt after casualty or wind/water damage are not counted as "new improvements" unless they exceed the original square footage or are of higher quality construction

Property appraisal notices must indicate whether the property qualifies for this commercial property limitation

Takes effect January 1, 2026, contingent on voter approval of a related constitutional amendment