Commercial Property Tax Appeals
Commercial property is real property, not personal property, owned for the purpose of generating income that is not coded by a taxing unit as residential. An example of commercial property is a shopping center in which the owner leases out space to proprietors. Owners of commercial property have the same rights as residential property owners to protest their taxes.
Business Personal Property
Generally, personal property is not taxable. However, property held for the purposes of being sold, leased or otherwise being held for the purpose of producing profit is taxable. Property of this nature is called Business Personal Property (BPP). Owners of BPP must file a rendition in order for the district to assess taxes of such property. This rendition covers property owned or managed and controlled as a fiduciary on January 1st of the current year. This rendition must be filed with the county appraisal district after January 1st and no later than April 15th of the current tax year.
When required by the Tax Code or by the chief appraiser, the person rendering property shall use the model form adopted by the Comptroller of Public Accounts, or use a form containing information that is in substantial compliance with the model form if approved by the comptroller.
The chief appraiser may request, either in writing or by electronic means, that the owner provide a statement containing supporting information indicating how the value rendered was determined. The statement must:
1. Summarize information sufficient to identify the property including the physical and economic characteristics relevant to the opinion of value, if appropriate, and the source of the information used;
2. State the effective date of the opinion of value; and
3. Explain the basis of the value rendered.
If a business has 50 or less employees, the owner may base the value estimate on the depreciation schedules used for federal income tax purposes.
The rendition must be delivered within 21 days of its request
Source: Texas Comptroller of Public Accounts Website