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TX HB3321
TX HB3321Relating to the limitation on increases in the appraised value of a residence homestead for ad valorem taxation.
summary
Introduced
03/09/2021
03/09/2021
In Committee
03/19/2021
03/19/2021
Crossed Over
Passed
Dead
05/31/2021
05/31/2021
Introduced Session
87th Legislature Regular Session
Bill Summary
Relating to the limitation on increases in the appraised value of a residence homestead for ad valorem taxation.
AI Summary
This bill amends the Tax Code to limit the annual increase in the appraised value of a residential homestead for ad valorem (property) taxation purposes. Specifically, it reduces the maximum allowable increase from 10% to 5% of the previous year's appraised value, plus the value of any new improvements. The bill applies only to tax years beginning on or after January 1, 2022, and is contingent on the approval of a related constitutional amendment by Texas voters.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Referred to Ways & Means (on 03/19/2021)
bill text
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://capitol.texas.gov/BillLookup/History.aspx?LegSess=87R&Bill=HB3321 | 03/10/2021 |
| BillText | https://capitol.texas.gov/tlodocs/87R/billtext/html/HB03321I.htm | 03/10/2021 |
| Bill | https://capitol.texas.gov/tlodocs/87R/billtext/pdf/HB03321I.pdf | 03/10/2021 |
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