- Assessment basis
- 100% of market value as of Jan 1 — no fractional assessment and no base-year system for commercial; the homestead 10%/yr cap and the piloted 20% non-homestead 'circuit breaker' (≤$5.32M in 2026, inflation-indexed from $5M; 2024-2026, sunsets 12/31/26) are the only brakes.
- Reassessment cycle
- Annual appraisal at 100% market value as of Jan 1 by each county's Appraisal District (CAD); no state property tax. Value notices (25.19) typically April; protest deadline May 15 or 30 days after notice.
- Reassessment trigger
- Annual reappraisal — no cap and no base-year system for commercial. TX is sales-price NON-DISCLOSURE: CADs lack recorded prices, so post-sale increases hinge on what the CAD can establish — but don't assume the price stays invisible (deeds, income data, disclosure in protest).
- Personal & intangible property
- Business personal property TAXABLE above the new $125,000 exemption (HB 9/Prop 9, effective 2026): rendition due Apr 15 (penalties for non-filing); inventory taxable (special dealer-inventory methods); FREEPORT exemption (jurisdiction-elected) for goods leaving TX within 175 days — decisive for distribution/logistics.
- CRE forecasting note
- The distinctive lever: EQUAL AND UNIFORM appeal (Tax Code §42.26) — value capped at the median of comparables regardless of market evidence; ARB protest → binding arbitration or district court; high rates + institutionalized appeal culture. Rate notices: Texas.gov/PropertyTaxes.
- Residential note
- Residential homestead: 10%/yr appraisal cap + $140,000 school-district homestead exemption (2025, up from $100,000; over-65/disabled +$60,000), over-65/disabled freezes on school taxes. Non-homestead residential (rentals/second homes) had a pilot 20% 'circuit breaker' cap for properties ≤$5M (2024–2026 only; not extended by the 2025 Legislature — sunsets Dec 31, 2026). Cap resets on ownership change.
DISCLOSURE ASYMMETRY — Non-disclosure state — comp evidence is contested terrain.
APPEAL DEADLINE — May 15 protest deadline; rendition penalties for late BPP filings.
SPLIT RATE — 20% circuit-breaker pilot on non-homestead ≤$5.32M in 2026, indexed (2024-26 only; sunsets 12/31/26).
Primary sources: TX Comptroller PTAD; Tax Code chs. 22-23, 25, 41-42 (as of 2026-07-01). Confirm current rules and figures with the assessing authority before any use.