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UNDERSTANDING THE PROPERTY TAX PROCESSTo view the Texas Property Tax Code in its entirety visit the Texas Window on State Government Web site.
LOW INCOME HOUSING – CAPITALIZATION RATE INFORMATION
Pursuant to Section 11.1825(r), Texas Property Tax Code, the McLennan Central Appraisal District gives public notice of the capitalization rate utilized to value properties receiving exemptions under this section. Specifically, the chief appraiser must appraise the property using the income method, consider the restrictions on who may rent the property and the amount of rent to be charged. Rent restricted properties vary widely. These variations can have an effect on the valuation of the property. The McLennan Central Appraisal District intends to apply the same capitalization rate to community housing development organizations (CHDOs) as used for all other rent restricted properties in McLennan County. An overall capitalization rate between 6.50% and 9.00% will be used to appraise these properties for 2024; although adjustments may be made on the individual characteristics of each property and the information provided to the chief appraiser as required under Section 11.182(d) and (g), Texas Property Tax Code.
ARBITRATION INFORMATION
SOAH INFORMATION
If the property value as determined by the ARB order is over $1 million, you may be able to file an appeal with SOAH. You may only appeal to SOAH if the appeal concerns the determination of the appraised or market value of the property under Tax Code Section 41.41(a)(1) or an unequal appraisal under Tax Code Section 41.41(a)(2). This option to appeal is applicable to determinations concerning real or personal property, other than industrial property.
To appeal an ARB order to SOAH, you must file a Notice of Appeal by Property Owner (PDF) with the chief appraiser of the appraisal district within 30 days of receiving the order of determination from the ARB. You must also file a $1,500 deposit with the chief appraiser within 90 days of receiving the order of determination.
As soon as practicable after receiving a Notice of Appeal by Property Owner (PDF) , the chief appraiser must indicate, where appropriate, those entries in the records that are subject to the appeal. The appraisal district will forward the deposit and Notice of Appeal by Property Owner (PDF) to SOAH and request the appointment of a qualifed administrative law judge to hear the appeal. For more information on this process, visit the SOAH’s website.
PROPERTY TAX PRESENTATION
