April 15 deadline for businesses property tax renditions
CAMERON—Chief Appraiser Patricia J. Moraw reminds businesses to render their property with the Milam Appraisal District by April 15. To render is to list the taxable inventory, furniture and fixtures, machinery and equipment and other property a business owned or managed as of Jan. 1. Property includes inventory and equipment used by a business.
The appraisal district uses the information to calculate property values.
“ The rendition helps the appraisal district appraise property fairly and accurately,” Moraw said. “It also gives the owner the opportunity to participate in the valuation of their property.”
Rendering allows property owners to record their opinion of their property’s value and may aid in an appeal of the value set by the district. Owners do not have to render exempt property, such as church property or a farmer’s equipment used for farming.
“The Appraisal District mailed renditions to recorded business owners in January to assist the owners with the filing requirements,” Moraw said. Reminders were mailed March 1 to those business owners that have not filed the required rendition.
The chief appraiser will impose a penalty of 10 percent of the total amount of taxes on a person who fails to timely file a rendition statement. T he penalty is attached to the tax statement after current rates are set. The last day to file a rendition is April 15.
Property owners who need more time to file their renditions may file a written request with the chief appraiser on or before April 15 to receive an automatic extension to May 15 or the next business day if the deadline falls on a weekend. The chief appraiser may also grant an additional 15 days after the May 15 deadline for good cause. It should be noted if the extension request is denied, the property is subject to the penalty.
“The district is aware of the year end responsibilities and tax reporting responsibilities businesses are involved in at this time,” Moraw said. “However, the common filing deadline should be beneficial since the information used is common to both filings,” she continued.
Rendition forms were mailed to all businesses recorded on the previous year tax roll. Forms are also available from Milam Appraisal District or the Texas Comptroller’s office. Failure to receive the forms by mail does not remove the responsibility from the owner. The district is not required to mail forms. This is a service to the property owners and acts as a reminder of the once a year requirement. New businesses will not receive a mailout.
The rendition forms ask for the property owner’s name and address, general description of property by type or category and the property’s location. For property with an aggregate total of more than $20,000, the property owner also must provide a general estimate of the quantity of inventory and the owner’s good faith estimate of the property’s market value. The owner may provide the historical cost when new and the year the property was acquired rather than the good faith estimate. The year and make of equipment aid in the valuation process.
The Appraisal District is a free-standing governmental office. Milam County Commissioners’ Court has no jurisdiction or responsibility over the functions of the Appraisal District.
For more information about rendering property, deadline extensions, penalties and rendition forms, taxpayers may contact Milam Appraisal District, 120 N. Houston Ave. or PO Box 769, Cameron, TX 76520; 254-697-6638 or 800-772-4457.
More information is also available from the Comptroller’s Property Tax Assistance Division at 1-800-252-9121, press “2” to access the menu and then press “1” to contact the Information Services Team, or by visiting the Comptroller’s website at www.window.state. tx.us/taxinfo/proptax/.