Texas SB320 amends the Tax Code to limit increases in the appraised value of a residence homestead for ad valorem taxation.

Texas SB320 amends Section 23.23(a) of the Tax Code to limit the increase in the appraised value of a residence homestead for ad valorem taxation. An appraisal office may increase the appraised value of a residence homestead to an amount not exceeding the lesser of the market value of the property for the most recent tax year or the sum of five percent of the appraised value of the property for the preceding tax year, the appraised value of the property for the preceding tax year, and the market value of all new improvements to the property.

Texas SB320 amends the Tax Code to limit increases in the appraised value of a residence homestead for ad valorem taxation.

Texas SB320 amends Section 23.23(a) of the Tax Code to limit the increase in the appraised value of a residence homestead for ad valorem taxation. An appraisal office may increase the appraised value of a residence homestead to an amount not exceeding the lesser of the market value of the property for the most recent tax year or the sum of five percent of the appraised value of the property for the preceding tax year, the appraised value of the property for the preceding tax year, and the market value of all new improvements to the property.