Bill > HB794

This bill proposes to amend the Texas Tax Code to limit the increase in appraised value for ad valorem tax purposes of both residence homesteads and single-family residences other than homesteads. Specifically, it would cap the annual increase in appraised value for residence homesteads at 5% (down from 10%) and for other single-family residences at 10% of the previous year's appraised value, plus the value of any new improvements. The bill also includes provisions related to the appraisal of replacement structures following a casualty or damage, and requires the appraised value and the limited value to be reported on property tax notices. The changes in this bill would only take effect if a proposed constitutional amendment authorizing these limitations is approved by Texas voters.