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TX SB1201

Bill

Official Source

Status

Introduced

2/10/2025

Primary Sponsor

Kevin Sparks

Click for details

Origin

Senate

89th Legislature Regular Session

AI Summary

  • Reduces the annual homestead appraisal cap from 10% to 3% when property market values increase from the prior tax year
  • Allows appraisal offices to decrease appraised values when market values decline, with reductions proportionate to the percentage decrease in market value
  • Changes terminology from "increase" to "adjust" to reflect that appraisal values can now move in either direction
  • Permits the addition of new improvements' market value to the adjusted appraised value regardless of whether overall market values increased or decreased
  • Takes effect September 1, 2025

Legislative Description

Relating to adjustments in the appraised value of a residence homestead.

Property Interests

Last Action

Referred to Local Government

2/28/2025

Committee Referrals

Local Government2/28/2025

Full Bill Text

No bill text available