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Texas Statutes (Last Updated: January 4, 2014) |
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TAX CODE |
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Title 1. PROPERTY TAX CODE |
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Subtitle D. APPRAISAL AND ASSESSMENT |
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Chapter 23. APPRAISAL METHODS AND PROCEDURES |
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Subchapter B. SPECIAL APPRAISAL PROVISIONS |
Sec. 23.23. LIMITATION ON APPRAISED VALUE OF RESIDENCE HOMESTEAD
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The limitation expires on January 1 of the first tax year that neither the owner of the property when the limitation took effect nor the owner's spouse or surviving spouse qualifies for an exemption under Section 11.13.
(d) This section does not apply to property appraised under Subchapter C, D, E, F, or G.
(e) In this section, "new improvement" means an improvement to a residence homestead 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.
(f) Notwithstanding Subsections (a) and (e) and except as provided by Subdivision (2), an improvement to property that would otherwise constitute a new improvement is not treated as a new improvement if the improvement is a replacement structure for a structure that was rendered uninhabitable or unusable by a casualty or by wind or water damage. For purposes of appraising the property under Subsection (a) in the tax year in which the structure would have constituted a new improvement:
(1) the appraised value the property would have had in the preceding tax year if the casualty or damage had not occurred is considered to be the appraised value of the property for that year, regardless of whether that appraised value exceeds the actual appraised value of the property for that year as limited by Subsection (a); and
(2) the replacement structure is considered to be a new improvement only if:
(A) the square footage of the replacement structure exceeds that of the replaced structure as that structure existed before the casualty or damage occurred; or
(B) the exterior of the replacement structure is of higher quality construction and composition than that of the replaced structure.