Commercial Real Estate Tax

  Millions of homeowners have no idea on the way to lower their property taxes. They casually glance or grimace at their mortgage escrow notice per annum and pony up without doing anything. 60% of properties are overvalued by assessors, according to the National Taxpayers Union. Having fought for fair assessments for quite a decade because the co-founder of a non-profit, taxpayer advocacy organization, most owners have no idea how the tax valuation process works. Here are five things you can do: Check your property description If your assessor shows four bedrooms, and you simply have three, then you'll correct the error if they visit your property otherwise you submit building drawings. Less living space, of course, means a lower tax bill. Your property description should be accurate in terms of square footage, rooms and amenities. Do you qualify for exemptions?   You automatically receive a homestead exemption for living in your home and not renting it out. Exemptions also a...

  One of your most important rights as a taxpayer is your right to protest your property taxes. If you are dissatisfied with the value of your property, you have the right to protest your property taxes. Depending on the type of the property, you may be able to appeal to the state’s district court in the county in which your property is located. Real and personal property taxes can be a financial burden for most of the business owners in Texas. Over 50 percent of all state and local tax revenue comes from property taxes, because Texas has no income taxes. However, with intervention, this can be reduced.   Reasons Why You Should Protest Your High Property Taxes The 2021 property tax season is quickly approaching. The following are reasons why an annual property tax appeal is necessary and tips on how to get the best reduction  It is your money.. Property taxes are the only tax that can be appealed on an annual basis. People are the number one reason to protest your proper...

  What is personal property? All property that is not characterized or taxed as “real estate” or “real property” is considered to be a PERSONAL PROPERTY. Business personal property includes everything from pens and other small items to computers and manufacturing equipment. It is available whether it is claimed, rented, leased, lent, or in any case made available to the business.  Who Must File A Business Personal Property Listing? Everyone who owns equipment used in a business must complete a personal property listing by April 30 each year. The listing must include a description of the equipment, its cost, and the acquisition year. The completion of a listing is required of all individuals, partnerships, corporations and associations who on January 1 own, control or possess any amount of leasehold improvements or personal property (tangible) utilized or held for a business reason. When and Where Does a Business Owner List? The business personal property listing must be filed...