Property Tax Inquiries Call 713.290.9700

4 Steps You Should Take If There Is A Gross Over-Assessment Of Your BPP

Over-assessment of your business personal property taxes can sometimes be a complicated mess. There are four steps you should take if you believe your business personal property taxes are over-assessed.

When it comes to property tax law in Texas, you may feel as though you need a property tax glossary to understand everything. Even then, there are bound to be facets of the Texas property tax system that are confusing. One of those confusing facets is business personal property (BPP).

If you’re a business owner, any tangible property like machines, computers or furniture can be taxed based on assessments by your local county appraisal district (CAD). The amount of what you are taxed depends almost exclusively on the value the CAD places on your BPP. Higher values obviously correlate to more taxes. If you feel that the CAD has grossly over-assessed the value of your BPP, then there are a few steps you should take.

1. Research Market Price

If you want to have successful Texas property tax appeals, then you first need to do your research. You should take a look at the market price of all the BPP you have in your business. Vehicles, furniture, equipment, machinery and almost anything that isn’t a building or the land itself count as BPP. You should always take a look at the value of these items based on criteria like their age, condition and original purchase price.

2. Seek Experienced Help

Of course, if you want to avoid higher taxes, then seeking a qualified, professional tax company is probably the best option. You can tap into their extensive knowledge of all things tax-related. They may also be able to appraise your BPP independently so that you have a solid idea of how to make your case. The value of having someone who understands the law is enormous.

3. Go to the CAD

In some cases, you can settle your issue informally at the CAD offices. This helps you avoid the necessity of Texas property tax appeals, because you can settle with the CAD outside the appraisal review board (ARB). Sometimes, the only problem with your valuation can be attributed to a clerical error. The CAD can clear that up and you can go on your way. More than likely, however, going to the CAD wouldn’t be that much of a help. They tend to offer settlements that are not good enough for anyone’s standards (if they offer settlements at all).

4. File an Appeal with the ARB

If you have run out of options for your over-assessed BPP, then the only choice you have left is to pay the overpriced taxes or file a notice of appeal with the ARB. The ARB is an independent review board that will objectively take a look at your situation. Once you have filed an appeal, the ARB will send you a notice of the appeal hearing. You must come up with your own evidence as to why the CAD’s valuation was grossly incorrect. This is another area where having experienced assistance on your side can help immensely.

Contact us today to learn more about the steps to take if your BPP is over-assessed!

You can obtain a FREE evaluation of your BPP that will show your potential tax savings. Don’t take the appraisal district’s guesstimate of your value! Request Your Free Evaluation Today.

 

Blog Author

Patrick O’Connor, MAI, Owner and President
Patrick O’Connor has been active in reducing property taxes, providing expert witness testimony and appraising commercial real estate property since 1983. Pat is active in publishing analyses and data with respect to the real estate market, while being a highly regarded media spokesperson for the real estate community. He holds a MAI, the highest achievable designation from the Appraisal Institute, and is a licensed senior property tax consultant. Pat earned a Master of Business Administration from Harvard University. In 2001, he authored the first definitive consumer guide to Texas property taxes, Cut Your Texas Property Taxes.

Property Tax Protection Program™

No cost to enroll

Recents

The Residential Property Protection Program™
is powered by O’Connor
  • Enter your information below and your documents and enrollment information will be emailed to you within one business day

  • Hidden
  • Hidden
  • Hidden
  • Call 713.290.9700 to discuss with a representative.

    Please monitor your E-mail and spam filter. If you don't receive your enrollment documents within 24 business hours, call 713.290.9700 8am - 5pm CST

  • Hidden
  • Hidden
  • Hidden
  • Hidden
  • Hidden
  • Hidden
  • Hidden
  • Hidden
  • Hidden
  • Hidden
  • Hidden
  • Hidden
  • Hidden
  • Hidden
  • Hidden
  • Hidden
  • This field is for validation purposes and should be left unchanged.

When you submit your enrollment, you understand this is a risk free offer to you. If your taxes are not reduced you PAY NOTHING, and a portion of the tax savings is the only fee you pay when your taxes are reduced.

Property Tax Protection Program™

You pay nothing unless we reduce your property taxes, and then only a portion of the savings. There is no flat fee, no sign up fee and no setup fee. We protest your property taxes aggressively every year, and you only pay if and when we reduce your property taxes.

O’Connor is the largest property tax consulting firm in the U.S. Our licensed tax consultants and administrative support team benefits home and property owners by reducing property tax assessments, filing personal property renditions, reviewing tax statements, protesting over-assessed property values, and attending informal tax hearings and appraisal review board meetings.

 

We work tirelessly to protest and lower your taxes with:

  • Informal hearings
  • Appraisal Review Board (ARB) hearings
  • Coordinating judicial appeals