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TX HB4389
Bill
Status
3/11/2025
Primary Sponsor
Hubert Vo
Click for details
AI Summary
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Establishes an annual inflation adjustment for the ad valorem tax exemption on income-producing tangible personal property, which currently applies to property valued under $2,500
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Sets the exemption threshold at $2,500 for the 2026 tax year, with the comptroller required to adjust this amount annually for subsequent years
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Requires the comptroller to use an inflation index that most accurately reflects changes in consumer purchasing power in Texas to calculate adjustments
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Mandates the comptroller to publish the adjusted taxable value threshold in the Texas Register and on the comptroller's website after each annual calculation
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Takes effect January 1, 2026, and applies to ad valorem tax years beginning on or after that date
Legislative Description
Relating to the adjustment of the amount of the exemption from ad valorem taxation of income-producing tangible personal property having a value of less than a certain amount to reflect inflation.
Property Interests
Last Action
Referred to Ways & Means
4/1/2025