Texas HB5442 proposes a tax exemption for up to $100,000 of the appraised value of income-producing tangible personal property valued under $2,500.

Texas HB5442 amends the Tax Code to allow a tax exemption for up to $100,000 of the appraised value of tangible personal property used for income production, provided the property has a taxable value of less than $2,500 and the owner submits an annual rendition statement. This change is contingent on voter approval of a constitutional amendment proposed by the 89th Legislature, Regular Session, 2025. If the amendment is not approved, the bill has no effect.

Texas HB5442 proposes a tax exemption for up to $100,000 of the appraised value of income-producing tangible personal property valued under $2,500.

Texas HB5442 amends the Tax Code to allow a tax exemption for up to $100,000 of the appraised value of tangible personal property used for income production, provided the property has a taxable value of less than $2,500 and the owner submits an annual rendition statement. This change is contingent on voter approval of a constitutional amendment proposed by the 89th Legislature, Regular Session, 2025. If the amendment is not approved, the bill has no effect.