Pursuant to Sec. 11.1825(r) of the Texas Property Tax Code, the Cameron County Appraisal District gives public notice of the capitalization rate to be used for tax year 2021 to value properties receiving exemptions under this section.
Rent restricted properties vary widely. These variations can have an effect on the valuation of the property.
A basic capitalization rate of 8.0 - 9.0% will be used to value these properties; although adjustments may be made based on the individual property characteristics and the information provided to the chief appraiser as required under Section 11.1825r of the Texas Property Tax Code no later than January 31st of each year.