SB492 — Relating to the application of the limit on appraised value of a residence homestead for ad valorem tax purposes to an improvement that is a replacement structure for a structure that was rendered uninhabitable or unusable by a casualty or by wind or water damage.

SB492 — Relating to the application of the limit on appraised value of a residence homestead for ad valorem tax purposes to an improvement that is a replacement structure for a structure that was rendered uninhabitable or unusable by a casualty or by wind or water damage. · Informed CitizenrySB 492 amends the Tax Code to modify how the appraised value of a residence homestead is calculated for ad valorem tax purposes when a replacement structure is built following a casualty, wind, or…Open in Informed Citizenry