Texas SB321 limits the increase in appraised value for residence homesteads for ad valorem taxation.

Texas SB321 amends the Tax Code to limit the increase in the appraised value of a residence homestead for ad valorem taxation. An appraisal office may raise the appraised value to the lesser of the market value from the most recent tax year or a sum that includes five percent of the previous year's appraised value, the previous year's appraised value, and the market value of new improvements.

Texas SB321 limits the increase in appraised value for residence homesteads for ad valorem taxation.

Texas SB321 amends the Tax Code to limit the increase in the appraised value of a residence homestead for ad valorem taxation. An appraisal office may raise the appraised value to the lesser of the market value from the most recent tax year or a sum that includes five percent of the previous year's appraised value, the previous year's appraised value, and the market value of new improvements.