Texas HB151 modifies the appraised value limit for residence homesteads for ad valorem taxation.

Texas HB151 amends the Tax Code to limit the increase in the appraised value of a residence homestead for ad valorem taxation. The appraised value for a tax year cannot exceed the lesser of the market value from the most recent tax year or the sum of two percent of the previous year's appraised value, the previous year's appraised value, and the market value of new improvements. This Act applies to appraisals for tax years beginning on or after January 1, 2027, contingent on voter approval of a constitutional amendment.

Texas HB151 modifies the appraised value limit for residence homesteads for ad valorem taxation.

Texas HB151 amends the Tax Code to limit the increase in the appraised value of a residence homestead for ad valorem taxation. The appraised value for a tax year cannot exceed the lesser of the market value from the most recent tax year or the sum of two percent of the previous year's appraised value, the previous year's appraised value, and the market value of new improvements. This Act applies to appraisals for tax years beginning on or after January 1, 2027, contingent on voter approval of a constitutional amendment.