Texas Tax Code
§ 23.231 — CIRCUIT BREAKER LIMITATION ON APPRAISED VALUE OF REAL PROPERTY OTHER THAN RESIDENCE HOMESTEAD
TX § 23.231Title 1. PROPERTY TAX CODE · Part D. APPRAISAL AND ASSESSMENT · Ch. 23. APPRAISAL METHODS AND PROCEDURES · Art. B. SPECIAL APPRAISAL PROVISIONS
Statute text
View on source(a)In this section:
(1)"Consumer price index" means the average over a state fiscal year of the Consumer Price Index for All Urban Consumers (CPI-U), U.S. City Average, published monthly by the United States Bureau of Labor Statistics, or its successor in function.
(2)"Disaster recovery program" means a disaster recovery program funded with community development block grant disaster recovery money authorized by federal law.
(3)"New improvement" means an improvement to real property made after the most recent appraisal of the property 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.
(b)This section applies only to real property with an appraised value of not more than the amount determined under Subsection (j) for the tax year in which the property first qualifies for the circuit breaker limitation authorized by this section.
(c)This section does not apply to:
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Legislative history
Added by Acts 2023, 88th Leg., 2nd C.S., Ch. 1 (S.B. 2), Sec. 4.03, eff. January 1, 2024.