Texas Business Personal Property Tax

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Texas Business Personal Property Tax
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What Is
Personal Property?
Business personal property includes tangible and
intangible personal property. Real estate,
minerals and tangible personal property are
taxed in most states. However, no state
currently applies a property tax to the
intangible component of personal property. Some
states solely tax intangible personal property
such as bonds.
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Types Of
Personal Property
Tangible personal property O?ce furniture,
supplies and devices Tools and equipment Intangib
le personal property Copyrights, royalties,
patents, personal service contracts,
installment obligations, life insurance and
annuity contracts.
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There are ?ve things to know about Texas
Business Personal Property Tax holders
Generally, Texas has uniform principles with
reference to key deadlines and reporting
procedures.
Texas has one among the very best property tax
rates in the country, with most properties
seeing considerable tax increases year over
year. Intangible asset valuation is important
for calculating accurate assessments for both
real estate and personal property. If your
opinion of the entire market price of your
business assets is under 20,000, you're not
needed to report detailed resource data, like
asset classi?cations, costs, and acquisition
years it's acceptable to provide a payment
value. Although all counties in Texas allow the
utilization of form 50-144 to report costs
values, each one appraisal districts have their
own valuation factor. Some Texas businesses
?ling commercial property tax may be eligible for
special tax exemptions.
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Enroll today in the
Business
Personal Property program and get to know your
potential tax savings
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