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

This bill limits the increase in appraised value for ad valorem tax purposes of certain commercial real property with a market value of $10 million or less. The limitation applies to properties acquired before the 2026 tax year. The appraised value cannot exceed the market value from the most recent tax year or the sum of the previous appraised value plus any new improvements, whichever is less. The bill also outlines procedures for property owners to protest appraised values and includes a statement clarifying that local officials set property tax burdens.

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

This bill limits the increase in appraised value for ad valorem tax purposes of certain commercial real property with a market value of $10 million or less. The limitation applies to properties acquired before the 2026 tax year. The appraised value cannot exceed the market value from the most recent tax year or the sum of the previous appraised value plus any new improvements, whichever is less. The bill also outlines procedures for property owners to protest appraised values and includes a statement clarifying that local officials set property tax burdens.