Relating to a limitation on increases in the appraised value of certain commercial real property for ad valorem tax purposes.

HB 168 limits how much commercial real estate property taxes can increase annually for properties valued at $10 million or less. It caps annual appraised value increases at either the previous year’s market value or 110% of the prior year’s appraised value plus the value of new improvements (like renovations or additions). The bill excludes homesteads, properties under other tax subchapters, and properties over $10 million. This change applies to commercial properties held for income generation, not residential homes, and aims to stabilize tax assessments for smaller commercial owners.