Texas Comptroller Susan Combs today reminded business owners that April 15 is the deadline to file property tax renditions with their county appraisal districts. To render is to list the taxable inventory, furniture and fixtures, machinery and equipment and other property a business owned or managed as of Jan. 1. The appraisal district may use the information to set property values.
“Rendition helps the appraisal district appraise property fairly and accurately,” Combs said. “If some businesses are not paying their fair share of property tax, it places a greater tax burden on other business owners and homeowners.”
Rendering allows property owners to record their opinion of their property’s value and ensures that the appraisal district sends them a notice before changing a value on their property. Owners do not have to render exempt property, such as church property or a farmer’s equipment used for farming.
If more than one appraisal district appraises a property, the property owner should render in each appraisal district office.
Failure to render property carries a penalty of 10 percent of the total amount of taxes due. Property owners who need more time to file their renditions may file a written request with the chief appraiser on or before April 15 to receive an automatic extension.
Combs also reminds owners whose property was damaged by a storm, flood or fire last year that they may file a special decreased value report that could lower their final tax bills. Property owners have until April 15 to file the decreased value report, which indicates their property’s condition on Jan. 1, 2011.
Rendition forms and decreased value report forms are available from county appraisal district offices statewide or they can be downloaded on the Comptroller’s website at http://www.window.state.tx.us/taxinfo/taxforms/02-forms.html. The rendition forms ask for the property owner’s name and address, general description of property by type or category and the property’s location. For property with an aggregate total of more than $20,000, the property owner also must provide a general estimate of the quantity of inventory and the owner’s good faith estimate of the property’s market value. The owner may provide the historical cost when new and the year the property was acquired rather than the good faith estimate.
For more information about rendering property, deadline extensions, penalties and rendition forms, taxpayers may contact the Comptroller’s Property Tax Assistance Division at (800) 252-9121, ext. 2, or visit the Comptroller’s website at www.window.state.tx.us/taxinfo/proptax/.
