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TX HB1041
TX HB1041Relating to the limitation on increases in the appraised value of a residence homestead for ad valorem taxation.
summary
Introduced
12/19/2022
12/19/2022
In Committee
03/02/2023
03/02/2023
Crossed Over
Passed
Dead
05/29/2023
05/29/2023
Introduced Session
88th 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 Texas Tax Code to limit the annual increase in the appraised value of a residence homestead for ad valorem (property) taxation purposes to 2.5% of the previous year's appraised value, plus the value of any new improvements. This change from the previous 10% limit is contingent on the approval of a related constitutional amendment by Texas voters in 2023. The bill applies to tax years beginning on or after January 1, 2024, if the constitutional amendment is approved.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Referred to Ways & Means (on 03/02/2023)
bill text
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://capitol.texas.gov/BillLookup/History.aspx?LegSess=88R&Bill=HB1041 |
| BillText | https://capitol.texas.gov/tlodocs/88R/billtext/html/HB01041I.htm |
| Bill | https://capitol.texas.gov/tlodocs/88R/billtext/pdf/HB01041I.pdf |
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