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TX HB32
TX HB32Relating to limitations on increases in the appraised value for ad valorem tax purposes of residence homesteads and single-family residences other than residence homesteads.
summary
Introduced
11/14/2022
11/14/2022
In Committee
02/23/2023
02/23/2023
Crossed Over
Passed
Dead
05/29/2023
05/29/2023
Introduced Session
88th Legislature Regular Session
Bill Summary
Relating to limitations on increases in the appraised value for ad valorem tax purposes of residence homesteads and single-family residences other than residence homesteads.
AI Summary
This bill proposes to limit the annual increase in appraised value for ad valorem (property) tax purposes for both residence homesteads and single-family residences other than homesteads. For residence homesteads, the annual increase would be capped at 5% (down from the current 10%) plus the value of any new improvements. For other single-family residences, the annual increase would be capped at 10% plus the value of new improvements. The bill also requires the appraisal district to include both the market value and the limited appraised value in the property records, and provides related changes to the tax protest and appeal process. The bill would take effect in 2024, 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 02/23/2023)
Bill Topics
Government Operations
- ‐ Tax Administration and Collection of Revenue
Macroeconomics
- ‐ Taxation, Tax Policy, and Tax Reform
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://capitol.texas.gov/BillLookup/History.aspx?LegSess=88R&Bill=HB32 | 11/15/2022 |
| BillText | https://capitol.texas.gov/tlodocs/88R/billtext/html/HB00032I.htm | 11/15/2022 |
| Bill | https://capitol.texas.gov/tlodocs/88R/billtext/pdf/HB00032I.pdf | 11/15/2022 |
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