The 85th Texas Legislature considered several bills related to commercial real estate.
- During the regular session, TAR supported House Bill 1449 (Simmons), which was signed into law to prohibit cities from imposing linkage fees on all new residential and commercial construction effective May 29.
- TAR opposed legislation in the regular session that would have allowed a central appraisal district to appraise specialized commercial property using a method that includes hypothetical use in the valuation. This change would have meant commercial property owners would be subject to property taxes based on their potential business options, rather than the value of the physical structure and land. Thanks to Texas REALTORS®’ efforts to educate lawmakers, this bill didn’t advance.
- TAR opposed multiple bills this session that would have extended the 10% appraisal cap on homestead residences to commercial and industrial real property. These bills did not advance.