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Homestead Assessed Value Maximum
Section Talking Points
- Homestead Assessed Value Maximum Increase
- Homestead Exemption
Homestead Assessed Value Maximum Increase
A Texas county appraisal distict may not increase the appraised value of a homestead by more than 10% in a given tax year. The homeowner's property tax is based on the county appraisal district's appraised value of the home. Technically, a Texas homestead's assessed value is limited to the lesser of either its market value or the sum of the market value of any new improvements and 110% of the appraised value of the preceding year. The 10% increase is cumulative. Therefore, the maximum increase is 10% times the number of years since the property was last appraised.
The 10% limitation on a Texas homestead is effective January 1st of the tax year following the first tax year the owner qualifies the property for a homestead exemption. The 10% limitaiton ends on January 1st of the tax year where the owner or the owner's spouse or surviving spouse no longer qualifies for the homestead exemption.
Homestead Exemption
Go to our Homestead Exemption section for a discussion of the Texas homestead exemption and to see if you qualify for a homestead exemption.
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