89R16230 PRL-D     By: Turner H.B. No. 4478       A BILL TO BE ENTITLED   AN ACT   relating to the determination by an appraisal district of the   capitalization rate to be used in the appraisal for ad valorem tax   purposes of property used for low-income housing.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Section 11.1825, Tax Code, is amended by adding   Subsection (r-1) to read as follows:          (r-1)  An appraisal district shall post on the district's   Internet website, if the district maintains an Internet website,   the methodology used by the district to develop the capitalization   rate proposed to be used in the district for that tax year.  The   appraisal district may not give notice of the capitalization rate   under Subsection (r) until the district has posted the methodology   as required by this subsection and provided the public a reasonable   opportunity to comment on the methodology's applicability for the   territory in which the rate will be used. The methodology used to   develop the capitalization rate:                (1)  may not be based solely on a percentage increase or   decrease from the prior tax year's capitalization rate; and                (2)  must include viable economic metrics for the   corresponding market where the rate will be applied.          SECTION 2.  This Act applies only to an ad valorem tax year   that begins on or after the effective date of this Act.          SECTION 3.  This Act takes effect January 1, 2026.