  |
Subscribe to the GPD Texas Property Tax announcement list
September 1 Inventory ValuationThough all taxable property in the State of Texas is normally valued as of January 1, there is one major exception. The Texas Tax Code allows a business owner to elect to have the inventory portion of his property valued as of the previous September 1 instead. This unusual and relatively unused change in the valuation date could result in significant tax savings for new businesses or businesses where inventory cycles result in greater inventory value on January 1 than September 1. However, the change in valuation date is not without risk. The deadline for applying for the alternative valuation date for 2005 is July 31. However, the State Comptroller has indicated that an August 2 filing date is available this year because July 31 is a weekend date. PROPERTY TAX TIPUpcoming Property Tax Seminars The Eighteenth Annual Legal Seminar on Ad Valorem Taxation will be held September 2 through 3 at Texas A&M University. TDLR continuing education hours are being requested. David Kaplan of GPD will speak during the seminar. The Texas Association of Property Tax Professionals (TAPTP) will hold its annual conference in Corpus Christi from September 30 to October 1. Seminars during the conference are anticipated to provide 10.5 hours of TDLR continuing education hours, including 3.5 legal. David Kaplan of GPD will speak during the conference. A half-day continuing legal education seminar on "Strategies for Overcoming Property Tax Law Challenges in Texas" will be held in Dallas on November 4. The seminar will be repeated in the morning and afternoon. Currently, the seminar only qualifies for CLE credit. Ron Gray of GPD will speak during the seminar. Upcoming deadlinesJuly 26 August 2 August 2 August 9 August 31 |
