The bill aims to limit the annual increase in the appraised value of real property for ad valorem tax purposes. This limitation is intended to provide property owners with more predictable and stable tax assessments by capping how much their property's value can rise each year for tax calculations. The bill proposes specific provisions to control these increases, which could have a significant impact on property tax burdens for individuals and businesses.
2023-01-09: Filed
2023-03-03: Read first time
2023-03-03: Referred to Ways & Means
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