Texas SB244 limits increases in appraised value for homestead property tax purposes.

Texas SB244 amends the Tax Code to limit increases in the appraised value of a residence homestead for ad valorem tax purposes. The appraised value for the first tax year the owner qualifies for an exemption is set at the market value. For subsequent years, the appraised value is limited to the lesser of the market value or a calculated amount based on the previous year's appraised value and new improvements. The limitation expires if neither the owner nor their spouse qualifies for the exemption.

Texas SB244 limits increases in appraised value for homestead property tax purposes.

Texas SB244 amends the Tax Code to limit increases in the appraised value of a residence homestead for ad valorem tax purposes. The appraised value for the first tax year the owner qualifies for an exemption is set at the market value. For subsequent years, the appraised value is limited to the lesser of the market value or a calculated amount based on the previous year's appraised value and new improvements. The limitation expires if neither the owner nor their spouse qualifies for the exemption.