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The circuit breaker limitation provided by Subsection (d) takes effect as to a parcel of real property on January 1 of the tax year following the first tax year in which the owner owns the property on January 1.
The Texas Legislature has currently only authorized the circuit breaker limitation for the 2024, 2025, and 2026 tax years. You are not required to submit an application to receive a circuit breaker limitation. The appraisal district will automatically apply and calculate these benefits every year.
18 kwi 2024 · The new Texas “circuit breaker” applies a 20% taxable value cap placed on all real property with a value of $5 million or less, with exception for homesteaded properties, special appraisal land (1-d-1 appraisal), and business personal property accounts.
The overall total limit for an efficiency tax credit in one year is $3,200. This breaks down to a total limit of $1,200 for any combination of home envelope improvements (windows/doors/skylights, insulation, electrical) plus furnaces, boilers and central air conditioners.
The Texas Legislature has currently only authorized the circuit breaker limitation for the 2024, 2025, and 2026 tax years. The appraised value that the circuit breaker applies to is set at $5,000,000 or less for 2024; however, the State Comptroller can increase or decrease the appraised value limit for 2025 and 2026 based on the consumer price ...
The Texas Legislature has currently only authorized the circuit breaker limitation for the 2024, 2025, and 2026 tax years. You are not required to submit an application to receive a circuit breaker limitation. The appraisal district will automatically apply and calculate these benefits every year.
The Texas Legislature has currently only authorized the circuit breaker limitation for the 2024, 2025, and 2026 tax years. You are not required to submit an application to receive a circuit breaker limitation. The appraisal district will automatically apply and calculate these benefits every year.
