Sec. 23.53. CAPITALIZATION RATE. The capitalization rate to be used in determining the appraised value of qualified open-space land as provided by this subchapter is 10 percent or the interest rate specified by the Farm Credit Bank of Texas or its successor on December 31 of the preceding year plus 2-1/2 percentage points, whichever percentage is greater.
Acts 1979, 66th Leg., p. 2259, ch. 841, Sec. 1, eff. Jan. 1, 1982. Amended by Acts 1995, 74th Leg., ch. 579, Sec. 4, eff. Jan. 1, 1996.
Structure Texas Statutes
Subtitle D - Appraisal and Assessment
Chapter 23 - Appraisal Methods and Procedures
Subchapter D. Appraisal of Agricultural Land
Section 23.52. Appraisal of Qualified Agricultural Land
Section 23.521. Standards for Qualification of Land for Appraisal Based on Wildlife Management Use
Section 23.522. Temporary Cessation of Agricultural Use During Drought
Section 23.524. Temporary Cessation of Agricultural Use to Manage the Spread of Certain Pests
Section 23.525. Oil and Gas Operations on Land
Section 23.526. Temporary Cessation of Agricultural Use Due to Quarantine for Ticks
Section 23.53. Capitalization Rate
Section 23.541. Late Application for Appraisal as Agricultural Land
Section 23.55. Change of Use of Land
Section 23.551. Additional Notice to Certain Landowners
Section 23.56. Land Ineligible for Appraisal as Open-Space Land
Section 23.57. Action on Applications
Section 23.58. Loan Secured by Lien on Open-Space Land
Section 23.59. Appraisal of Open-Space Land That Is Converted to Timber Production
Section 23.60. Reappraisal of Land Subject to Temporary Quarantine for Ticks