Impact of Gut Renovation on Property Appraisal Value and HCAD Adjustments

To what extent does a full gut renovation typically increase the appraised value of a property, and what factors influence the amount of value added? For example, if a property is appraised at $500,000 and the renovation costs total $200,000, will HCAD automatically adjust the appraised value to $750,000? Thank you.