The rendition deadline for small businesses in Texas is this Friday, April 15. Business owners have to submit rendition forms that list all of their taxable inventory, including all machinery and equipment, that the business owned in 2010. This process allows business owners to state their opinions of their equipment and property value before the appraisal district sets their own property values, upon which property taxes are based. The appraisal district always takes business owners’ opinions into consideration when setting property values. If business owners in Texas fail to submit rendition forms, they’re subject to a 10% penalty in addition to taxes owed.
If you’re a Texas business owner and are seeking a certified machinery and equipment appraiser in your area to help you determine the value of your property, find a Texas-based appraiser today!
The NEBB Institute endorses and strives to observe the highest standards of professional ethics to preserve the public trust inherent in the professional appraisal practice. The Institute provides initial and monthly comprehensive education, ongoing support, and a dynamic international network, and certifies professionals in the art of machinery/equipment appraisal and brokerage.
By: NEBB Institute
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