Bill Text: TX HB84 | 2017 | 85th Legislature 1st Special Session | Introduced
Bill Title: Relating to the limitation on increases in the appraised value of a residence homestead for ad valorem tax purposes.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Introduced - Dead) 2017-07-25 - Left pending in committee [HB84 Detail]
Download: Texas-2017-HB84-Introduced.html
| 85S10335 LHC-D | ||
| By: Metcalf | H.B. No. 84 | |
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| relating to the limitation on increases in the appraised value of a | ||
| residence homestead for ad valorem tax purposes. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Section 23.23(a), Tax Code, is amended to read as | ||
| follows: | ||
| (a) Notwithstanding the requirements of Section 25.18 and | ||
| regardless of whether the appraisal office has appraised the | ||
| property and determined the market value of the property for the tax | ||
| year, an appraisal office may increase the appraised value of a | ||
| residence homestead for a tax year to an amount not to exceed the | ||
| lesser of: | ||
| (1) the market value of the property for the most | ||
| recent tax year that the market value was determined by the | ||
| appraisal office; or | ||
| (2) the sum of: | ||
| (A) five [ |
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| the property for the preceding tax year; | ||
| (B) the appraised value of the property for the | ||
| preceding tax year; and | ||
| (C) the market value of all new improvements to | ||
| the property. | ||
| SECTION 2. This Act applies only to the appraisal for ad | ||
| valorem taxation of residence homesteads for a tax year that begins | ||
| on or after the effective date of this Act. | ||
| SECTION 3. This Act takes effect January 1, 2018, but only | ||
| if the constitutional amendment proposed by the 85th Legislature, | ||
| 1st Called Session, 2017, to authorize the legislature to limit the | ||
| maximum appraised value of a residence homestead for ad valorem tax | ||
| purposes to 105 percent or more of the appraised value of the | ||
| property for the preceding tax year is approved by the voters. If | ||
| that amendment is not approved by the voters, this Act has no | ||
| effect. | ||
