What is a homestead cap value?
Cap value applies to residential homesteads only. If this property is your residence homestead, the appraised value may not exceed the lesser of: • the market value of the property, or • the sum of: • 10 percent of the appraised value of the property for the last year in which the property was appraised for taxation times the number of years since the property was last appraised; • the appraised value of the property for the last year in which the property was appraised; and • the market value of all new improvements to the property.
