Limits increases in appraised value for ad valorem tax purposes of residential real property leased to an elderly person.

This bill amends the Texas Tax Code to limit increases in the appraised value for ad valorem tax purposes of residential real property leased to an elderly person. It applies to single-family residential properties leased to individuals aged 65 or older for a rent not exceeding the fair market rent. The limitation takes effect as of January 1, 2026, contingent on voter approval of a constitutional amendment. The bill also outlines the process for applying for the limitation, including annual applications and the requirement to provide personal information for verification.

Limits increases in appraised value for ad valorem tax purposes of residential real property leased to an elderly person.

This bill amends the Texas Tax Code to limit increases in the appraised value for ad valorem tax purposes of residential real property leased to an elderly person. It applies to single-family residential properties leased to individuals aged 65 or older for a rent not exceeding the fair market rent. The limitation takes effect as of January 1, 2026, contingent on voter approval of a constitutional amendment. The bill also outlines the process for applying for the limitation, including annual applications and the requirement to provide personal information for verification.