Loading chat...
TX HB442
Bill
Status
11/12/2024
Primary Sponsor
Cecil Bell
Click for details
AI Summary
-
Reduces the annual appraisal cap on residence homestead values from 10% to 5% for property tax purposes
-
The appraised value of a homestead cannot increase more than 5% over the prior year's appraised value, plus the market value of any new improvements
-
Applies only to tax years beginning on or after January 1, 2026
-
Takes effect only if voters approve a related constitutional amendment proposed by the 89th Legislature authorizing the legislature to set a lower homestead appraisal cap
-
If the constitutional amendment is not approved by voters, the bill has no effect
Legislative Description
Relating to the limitation on increases in the appraised value of a residence homestead for ad valorem taxation.
Property Interests
Last Action
Referred to s/c on Property Tax Appraisals by Speaker
2/28/2025