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A BILL TO BE ENTITLED
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AN ACT
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relating to the treatment of certain improvements for the |
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limitation on increases in the appraised value of a residence |
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homestead for ad valorem tax purposes. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 23.23(e), Tax Code, is amended to read as |
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follows: |
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(e) In this section, "new improvement" means an improvement |
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to a residence homestead made after the most recent appraisal of the |
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property that increases the market value of the property and the |
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value of which is not included in the appraised value of the |
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property for the preceding tax year. The term does not include: |
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(1) repairs to or ordinary maintenance of an existing |
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structure or the grounds or another feature of the property; or |
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(2) an improvement made using money made available |
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under the HOME Investment Partnerships Program or another similar |
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program administered by the Texas Department of Housing and |
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Community Affairs that provides financial assistance for the repair |
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and reconstruction of owner-occupied housing. |
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SECTION 2. This Act applies only to the appraisal for ad |
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valorem tax purposes of residence homesteads for a tax year that |
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begins on or after the effective date of this Act. |
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SECTION 3. This Act takes effect January 1, 2024. |