Is there a specific method for valuing non-exempt low-income housing properties?

• Is there a specific method for valuing non-exempt low-income housing properties?
  Yes.  If the ownership of the property meets certain conditions spelled out in the Texas Property Tax Code (Sec 23.215), the property shall be appraised using the income approach to value.
• What is Special Inventory?
  The Tax Code provides a special appraisal method for certain inventory types including motor vehicles, heavy equipment, retail manufactured housing and vessels and outboard motors. Owners of these types of special inventory must file a declaration with the chief appraiser on or before Feb. 1 of each year or not later than 30 days of starting a business if the dealer was not in business on Jan. 1. Generally, the dealer must include in the declaration the inventory’s market value for the current year, based on the prior year’s inventory sales divided by 12.
• Can an owner request an alternative assessment date?
  Yes.  A business owner may have his or her inventory appraised at its value on September 1 of the previous year, four months before the normal January 1 date. The owner must file a request before August 1 of the previous year to qualify. Since inventories are valued according to the quantity of goods present on the appraisal date, a September 1 appraisal can benefit a property owner who has lower inventory levels in September than in January.
• During an ARB hearing which party has the Burden of Proof?
  In a protest on market value and a protest for unequal appraisal, the appraisal district has the burden of establishing the property value by a preponderance of the evidence. If the appraisal district fails to meet that standard, the protest must be determined in the property owner’s favor.
• Can a taxpayer file a late appeal?
  Yes. One of the most common motions to correct is called a 25.25(c) motion because of the Texas Property Tax Code section involved. The following information describes the types of corrections: clerical errors, multiple appraisals, nonexistent property and errors in ownership.

Other types of late appeals are called 25.25 (d) appeals which deal with overvaluations of commercial and residential properties.