TX HB4478

Requires the Texas Department of Housing and Community Affairs (TDHCA) to adopt a statewide capitalization rate by January 31 each year for appraising low-income housing properties that receive financial assistance under the state's housing tax credit program

Mandates that chief appraisers in all Texas appraisal districts use the TDHCA-adopted capitalization rate when appraising these specific rent-restricted low-income housing properties, rather than locally determined rates

Requires TDHCA to provide public notice and comment opportunity before finalizing the capitalization rate, and to post the rate on its website and submit it to all appraisal districts statewide

Requires appraisal districts to post the TDHCA-adopted capitalization rate on their websites as soon as practicable after receiving it

Takes effect January 1, 2026, and applies to ad valorem tax years beginning on or after that date