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…
DetailsSince its founding in 1988, P.E. Pennington & Co., Inc. has established itself as a trusted leader in commercial property tax consulting throughout Florida. With over a billion dollars in property values under their representation, the company has helped countless business owners save significantly on their property taxes. The key to their success lies in…
DetailsA property owner may appear at the protest hearing in one of these ways: In person and offer evidence and argument. By telephone conference call or videoconference. By written affidavit delivered to the ARB before the hearing begins.
DetailsThe property is appraised over market value as of January 1. The property valuation is unequal compared to other like properties. Error of the property’s inclusion on the appraisal records. Denial in whole or in part of a partial exemption. Denial for special agricultural or timber appraisal. Identification of the taxing units in which the…
DetailsTo serve on the ARB, an individual must have lived in the appraisal district for at least two years before taking office. For the most part, ARB members do not need any special qualifications, but they may not serve on the ARB if, at the time of service, they are: appraisal district board of…
DetailsQ. When do you file a property tax protest in Texas? A. The usual deadline for filing most protests is May 15. If the filing deadlines that fall on a Saturday, Sunday or a legal state or national holiday are postponed until the next business day. Q. Does a taxpayer have the right to review…
DetailsReappraisal of Property Damaged in Disaster Area – Section 23.02 Sec. 23.02. Reappraisal of Property Damaged in Disaster Area. (a) The governing body of a taxing unit that is located partly or entirely inside an area declared to be a disaster area by the governor may authorize reappraisal of all property damaged in the disaster…
DetailsHow to calculate the 1/3 over-assessed qualification in a 25.25(d) Hearing. How to calculate the 1/3 over-assessed qualification in a 25.25(d) Hearing. There are two methodologies that allow you to judge whether a value meets the 1/3 over-assessed rule: 1) Using the Current Assessed Value: Calculation: **Current Assessed Value X 75% = Threshold for Corrected…
DetailsProperty Taxpayer Advocates Rahul Patel, Paul Pennington and James Harris in Austin testifying in favor of SB 669, Senator Nelson’s ARB and Arbitration reform Bill.
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