Texas HB9 proposes an exemption from ad valorem taxation for a portion of the appraised value of tangible personal property used for income.

Texas HB9 amends the Tax Code to provide an exemption from ad valorem taxation for a portion of the appraised value of tangible personal property held or used for income production. The bill includes provisions contingent on a constitutional amendment, which, if approved, would exempt $250,000 of the appraised value of such property. The changes apply to the 2025 tax year and require assessors to calculate tax rates as if the amendment were in effect. If the amendment is not approved, a supplemental tax bill will be issued.

Texas HB9 proposes an exemption from ad valorem taxation for a portion of the appraised value of tangible personal property used for income.

Texas HB9 amends the Tax Code to provide an exemption from ad valorem taxation for a portion of the appraised value of tangible personal property held or used for income production. The bill includes provisions contingent on a constitutional amendment, which, if approved, would exempt $250,000 of the appraised value of such property. The changes apply to the 2025 tax year and require assessors to calculate tax rates as if the amendment were in effect. If the amendment is not approved, a supplemental tax bill will be issued.