A new property tax law could bring relief to Hidalgo County residents who own more than one home or business.

Another tax change property owners will see is a three-year cap on appraisal increases.

Hidalgo County Assistant Chief Appraiser Jorge Gonzalez says there is a 20 percent cap for any property that is valued at less than $5 million and doesn't qualify for the homestead exemption. That includes rental homes, commercial and apartment properties.

"So if you have a commercial property, like a restaurant, as long as it's worth less than $5 million there's going to be a 20 percent cap on it as far as taxes are concerned. Not that we can increase it by more than that, but there's going to be a 20 percent cap on those properties," Gonzalez said.

The 20 percent cap will not apply to someone who just bought a brand-new home or to anything considered a new addition to a home.

Notices will be sent out to property owners in April and May.

To apply for a homestead exemption, head over to your county's appraisal district website and fill out the appropriate forms.