A limitation on increases in the appraised value of real property for ad valorem tax purposes

Texas House Bill 490 proposes to limit how much the appraised value of real property can increase each year for property tax purposes. This means that property owners may see smaller increases in their property taxes over time, even if the market value of their property rises significantly.

Supporters of HB490 argue that it will provide much-needed relief to property owners by capping the annual increase in property appraisals. This measure is seen as a way to protect homeowners from rapidly rising property taxes and offer more predictability in their financial planning.

Critics of HB490 claim that limiting appraisal increases could lead to underfunding of essential public services that rely on property taxes, such as schools and emergency services. They argue that this bill might benefit property owners at the expense of community resources and infrastructure.