2008 Low Income Housing Apartment Capitalization Rate Pursuant to Sec. 11.1825(r) of the Texas Property Tax Code, the Jackson Central Appraisal District gives public notice of the capitalization rate to be used for tax year 2008 to value properties receiving exemptions under this section. Rent restricted properties vary widely. These variations can have an affect on the valuation of the property. A basic capitalization rate of 8% 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 Sections 11.182 (d) and (g), Property Tax Code.