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H.B. No. 438

H.B. No. 438

AN ACT
relating to the limitation on the maximum percentage increase in
the appraised value of a residence homestead for ad valorem
taxation.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Sections 23.23(a) and (e), Tax Code, are 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 [The] appraised value of
a residence homestead for a tax year to an amount [may] 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 [last] year [in which the property
was appraised for taxation times the number of years since the
property was last appraised];
(B) the appraised value of the property for the
preceding tax [last] year [in which the property was appraised];
and
(C) the market value of all new improvements to
the property.
(e) In this section, “new improvement” means an improvement
to a residence homestead [that is] made after the most recent
appraisal of the property [for the preceding year and] that
increases the market value of the property and the value of which is
not included in the appraised value of the property for the
preceding tax year. The term does not include repairs to or
ordinary maintenance of an existing structure or the grounds or
another feature of the property.
SECTION 2. This Act applies only to the appraisal of a
residence homestead for ad valorem taxation for a tax year that
begins on or after the effective date of this Act.
SECTION 3. This Act takes effect January 1, 2008, but only
if the constitutional amendment proposed by the 80th Legislature,
Regular Session, 2007, authorizing the legislature to provide that
the maximum appraised value of a residence homestead for ad valorem
taxation is limited to the lesser of the most recent market value of
the residence homestead as determined by the appraisal entity or
110 percent, or a greater percentage, of the appraised value of the
residence homestead for the preceding tax year is approved by the
voters. If that amendment is not approved by the voters, this Act
has no effect.

______________________________ ______________________________
President of the Senate Speaker of the House

I certify that H.B. No. 438 was passed by the House on May 9,
2007, by the following vote: Yeas 143, Nays 0, 2 present, not
voting.

______________________________
Chief Clerk of the House

I certify that H.B. No. 438 was passed by the Senate on May
22, 2007, by the following vote: Yeas 28, Nays 1.

______________________________
Secretary of the Senate
APPROVED: _____________________
Date

_____________________
Governor

Property Tax Protection Program™ Benefits

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  • All practical efforts are made every year to reduce your property taxes.
  • Never miss another appeal deadline.
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