TARRANT CAD CODE
In addition, the Texas Property Tax Code specifically provides that any estimate of value you provide is not admissible in proceedings other than a protest to the Appraisal review Board (ARB) or court proceedings related to penalties for failure to render. Yes, Information contained in a rendition cannot be disclosed to third parties except in very limited circumstances. If your organization has previously qualified for an exemption that applies to personal property, for example, a religious or charitable organization exemption, you are not required to render the exempt property. You are not required to render intangible personal property (property that can be owned but does not have a physical form) such as cash, accounts receivable, goodwill, application computer software, and other similar items.
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This property includes furniture and fixtures, equipment, machinery, computers, inventory held for sale or rental, raw materials, finished goods, and work in process.
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Business owners are required by State law to render personal property that is used in a business or used to produce income. Owners of tangible personal property on which an exemption has been cancelled or denied.įor taxation purposes, there are two basic types of property: real property (land, buildings, and other items attached to land) and personal property (property that can be owned and is not permanently attached to the land or building such as inventory, furniture, fixtures, equipment and machinery).Owners of tangible personal property that is used for business purposes.The Gregg County Appraisal District has prepared this document to assist you in complying with this very important law. There are substantial penalties for failure to report or for falsification and tax evasion. If you own a business, you are required by law to report to your county Appraisal District all personal property that is used in that business. The Appraisal District uses the information you provide to appraise your property for taxation. (Note: Property is considered to be used continually, whether regularly or irregularly, in this state if the property is used in this state three or more times on regular routes or for three or more completed assignments occurring in close succession throughout the year.) What is a rendition for Business Personal Property?Ī rendition is a form that provides information about property that you own. Used continually, whether regularly or irregularly in the state.Temporarily located outside the state and the owner resides in this state.
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Located in the state for longer than a temporary period.The State of Texas has jurisdiction to tax personal property if the property is: Taxpayer Education What is Business Personal Property Tax?īusiness Personal Property tax is an ad valorem tax on the tangible personal property that is used for the production of income. Business Personal Property Information Business Personal Property Depreciation Schedules 2021 Depreciation SchedulesĢ021 Business Personal Property Depreciation Schedule