Appraisal Capitalization Rate for Low Income Housing

Pursuant to Section 11.1825(r) of the Texas Property Tax Code, the Lubbock Central Appraisal District gives public notice of the capitalization rate to be used for tax year 2010 to value properties receiving exemption under this section. A basic capitalization rate of 8.5% will be used to value these properties. Pursuant to Section 11.182(d) and (g) of the Texas Property Tax Code, adjustments may be made to the cap rate based on the individual property characteristics and the information provided to the chief appraiser