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What is a capped value and do I get one automatically?

April 26, 2017automatically capped value

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What is a capped value and do I get one automatically?

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Texas Property Tax Code, Section 23.23, allows for a 10% cap on residential properties where owners have filed a residential homestead exemption. Please note that the cap is affected by the addition of new improvements added in that year (i.e., additions, pools, garages). Capped Value minus applicable exemptions equals Taxable Value.