Limits increases in appraised value for certain commercial real property for ad valorem tax purposes.

This bill amends the Texas Tax Code to limit the maximum appraised value of certain commercial real property for ad valorem tax purposes. Specifically, it restricts the appraised value increase to the lesser of the market value from the previous tax year or a sum that includes 10% of the previous year's appraised value, the previous year's appraised value, and the market value of new improvements. The limitation applies to commercial real property with a market value of $10 million or less.

Limits increases in appraised value for certain commercial real property for ad valorem tax purposes.

This bill amends the Texas Tax Code to limit the maximum appraised value of certain commercial real property for ad valorem tax purposes. Specifically, it restricts the appraised value increase to the lesser of the market value from the previous tax year or a sum that includes 10% of the previous year's appraised value, the previous year's appraised value, and the market value of new improvements. The limitation applies to commercial real property with a market value of $10 million or less.