Texas HB2786 amends the Tax Code to mandate annual reappraisals by appraisal districts and limits the increase in appraised value of property.

Texas HB2786 modifies the Texas Tax Code to require appraisal districts to develop a biennial plan for annual reappraisals of all property. The board of directors must approve this plan and distribute copies to relevant taxing units and the comptroller. The appraisal office must use the most recent information from reappraisal activities when determining appraised values. The bill also limits the increase in appraised value of property, setting it at the lesser of the market value from the most recent tax year or a sum involving the preceding year's appraised value and new improvements.

Texas HB2786 amends the Tax Code to mandate annual reappraisals by appraisal districts and limits the increase in appraised value of property.

Texas HB2786 modifies the Texas Tax Code to require appraisal districts to develop a biennial plan for annual reappraisals of all property. The board of directors must approve this plan and distribute copies to relevant taxing units and the comptroller. The appraisal office must use the most recent information from reappraisal activities when determining appraised values. The bill also limits the increase in appraised value of property, setting it at the lesser of the market value from the most recent tax year or a sum involving the preceding year's appraised value and new improvements.