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TX HB3212
Bill
Status
2/24/2025
Primary Sponsor
Jay Dean
Click for details
AI Summary
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Allows homeowners who move to transfer a portion of their property tax appraisal cap savings from their former homestead to their new homestead in the first year they qualify for the homestead exemption
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Limits the transferred appraisal reduction to the lesser of the difference between market value and appraised value of the former home, or $500,000
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Requires chief appraisers to provide written certificates to homeowners moving between appraisal districts, documenting eligibility and calculation of the reduction amount
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Applies only to new homesteads qualified for exemption beginning on or after January 1, 2026
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Takes effect January 1, 2026, contingent upon voter approval of a related constitutional amendment proposed by the 89th Legislature
Legislative Description
Relating to providing for a reduction of the appraised value of a residence homestead for ad valorem tax purposes for the first tax year in which the owner qualifies the property for a residence homestead exemption based on the amount by which the limitation on increases in the appraised value of a residence homestead reduced the appraised value of the owner's former residence homestead for the last tax year in which the owner qualified the former residence homestead for a residence homestead exemption.
Property Interests
Last Action
Referred to s/c on Property Tax Appraisals by Speaker
3/20/2025