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

This bill proposes a limitation on the increase in appraised value for certain commercial real property for ad valorem tax purposes. It applies to commercial real property with a market value of $10 million or less. The limitation takes effect on January 1 of the tax year following the first tax year in which the owner owns the property and the property meets the definition of commercial real property.

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

This bill proposes a limitation on the increase in appraised value for certain commercial real property for ad valorem tax purposes. It applies to commercial real property with a market value of $10 million or less. The limitation takes effect on January 1 of the tax year following the first tax year in which the owner owns the property and the property meets the definition of commercial real property.