Bill > HB4338

This bill proposes a limitation on increases in the appraised value for ad valorem (property) tax purposes of commercial real property. Specifically, it would cap the annual increase in the appraised value of commercial real property at the lesser of the property's market value from the most recent tax year or a 10% increase over the previous year's appraised value, plus the market value of any new improvements. This limitation would take effect on January 1, 2020, if a related constitutional amendment is approved by Texas voters. The bill also makes some technical changes to provisions related to the appraisal of such properties and the calculation of taxable values for school funding purposes.