Texas HB157 limits increases in the appraised value of a residence homestead for ad valorem taxation.

Texas HB157 amends the Tax Code to limit the increase in the appraised value of a residence homestead for ad valorem taxation. The appraised value may not exceed the lesser of the market value from the most recent tax year or the sum of five 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 HB157 limits increases in the appraised value of a residence homestead for ad valorem taxation.

Texas HB157 amends the Tax Code to limit the increase in the appraised value of a residence homestead for ad valorem taxation. The appraised value may not exceed the lesser of the market value from the most recent tax year or the sum of five 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.