Your home's taxable value could rise more slowly, but only if voters approve a bigger change first
What it does
The bill would lower the limit on how much an appraisal office can raise the appraised value of a residence homestead in one year, from 10 percent to 3 percent. Even with that smaller cap, the new value could not exceed the property's most recently determined market value, and the increase could include the market value of new improvements to the home. The bill would take effect January 1, 2028, and only if voters approve a separate constitutional amendment that lets the legislature set that lower limit. If voters do not approve it, this bill would have no effect.
What it means for your community
The appraisal office that sets your home's value each year would have less room to raise it. Your property tax bill is tied to that appraised value, so a smaller yearly increase means a slower-growing bill when home values jump. The cap applies only to your residence homestead, so rental and business property are not covered, and the bill text does not say what happens to the schools, cities, and counties that rely on these taxes.
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