I have a question about the Circuit breaker.

What is the circuit breaker?

Starting January 1, 2024, the appraised value of qualifying, non-homestead real property is limited to a 20% increase from the prior year’s value.

What property qualifies for the circuit breaker?

Real, non-homestead properties that had a base market value of no more than $5 million for tax year 2024.  The base market value will be adjusted by the Texas Comptroller’s office each year.  The limitation takes effect on January 1 of the tax year following the first tax year the owner owns the property on January 1 and does not apply to new improvements.