88R12365 MLH-F
 
  By: Davis H.B. No. 2597
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the limitation on increases in the appraised value of a
  residence homestead for ad valorem tax purposes.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 23.23(a), Tax Code, is amended to read as
  follows:
         (a)  Notwithstanding the requirements of Section 25.18 and
  regardless of whether the appraisal office has appraised the
  property and determined the market value of the property for the tax
  year, an appraisal office may increase the appraised value of a
  residence homestead for a tax year to an amount not to exceed the
  lesser of:
               (1)  the market value of the property for the most
  recent tax year that the market value was determined by the
  appraisal office; or
               (2)  the sum of:
                     (A)  10 percent of the appraised value of the
  property for the preceding tax year; and
                     (B)  the appraised value of the property for the
  preceding tax year[; and
                     [(C)  the market value of all new improvements to
  the property].
         SECTION 2.  Sections 23.23(e), (f), and (g), Tax Code, are
  repealed.
         SECTION 3.  This Act applies only to the appraisal for ad
  valorem tax purposes of residence homesteads for a tax year that
  begins on or after the effective date of this Act.
         SECTION 4.  This Act takes effect January 1, 2024.