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After Rendition: Now What?April 15 has come, and the business personal property rendition forms should be at or on their way to the applicable appraisal district. However, the filing of the rendition form is only the first step in the valuation of business personal property in Texas. What might a property owner face in the next step? It could be a value notice, a request for more information, or even an inspection of the personal property. PROPERTY TAX TIPGovernor's Tax Plan Report Available Gov. Rick Perry has called a special session of the Texas Legislature beginning on April 20 to address issues involving school funding, including property tax issues. The Governor's office has issued a report containing his proposal for Educational Excellence and Property Tax Relief. This report is available online. Comptroller Revises Exemption, Allocation Forms The Texas state comptroller has issued revisions to the model forms to be used in applying for various property tax exemptions. The new forms were enacted as part of a revision to Section 9.415 of Chapter 34 of the Texas Administrative Code. The forms were made available on the comptroller's website in March. The stated reason for the revisions was to comply with various changes to exemptions enacted by the Texas Legislature during its 2003 session. The comptroller also revised Section 9.4033 regarding interstate allocation of value for certain business personal property. This revision deals with determining when an allocation should be made and the method of allocating value. Upcoming deadlinesApril 30 May 15 May 31 Important Note |
