Relating to the limitation on increases in the appraised value of a residence homestead for ad valorem tax purposes.

HB 299 limits annual increases in the taxable value of Texas homestead properties for property tax purposes. It restricts annual increases to either 10% of the previous year's appraised value plus new improvements, or the previous year's market value - whichever is lower. This applies to homeowners who qualify for the homestead exemption under Section 11.13 of the Tax Code and must file a separate application with their appraisal district. The bill directly affects residential property owners seeking to limit annual tax increases on their primary homes.