Adjusts the appraised value of a residence homestead based on market value changes and new improvements.
This bill amends the Tax Code to allow appraisal offices to adjust the appraised value of a residence homestead. The adjustment can increase the value based on new improvements or decrease it if the market value has fallen. The new value cannot exceed the lesser of the previous year's market value or a calculated sum if the value has increased or decreased. This Act takes effect September 1, 2025.
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