Bexar County Appraisal District message: In response to current events surrounding COVID-19, Bexar Appraisal District will suspend services to the public inside our building starting on Monday, March 23.
Bexar County Appraisal District announced: While the deadline to file a rendition is April 15, the chief appraiser is granting an automatic extension of the deadline to May 15 amid the COVID‐19 pandemic.
Bexar Central Appraisal District announced the personal property rendition deadline has been delayed until May 15th. Owners of personal property, used for the production of income, aka business personal property, are required to “render” property annually or face a 10% penalty.
Completing the Bexar County Appraisal District form as requested is not a good idea. It will likely cause you to pay double the correct level of property taxes. I feel so strongly about this I wrote the book (What You Need To Know About Personal Property Valuation) listed below and available on Amazon.
For professional assistance in preparing your business personal property tax rendition, CLICK HERE
Bexar County Appraisal District (BCAD) property values, for purposes of property taxes, will not consider Covid-19 or $20 oil prices, due to the January 1, 2020 valuation date.
Owners of business personal property are required to render annually. There is a 10% penalty, in addition to the property taxes, if you do not render. However, if you render, you will likely indicate a value MUCH higher than fair market value.
Be wary about rendering as requested on the Bexar Appraisal District form; it will tend the generate a value TWICE the fair value, with the exception of inventory, which is much closer using the Bexar Central Appraisal District Method.
For the authoritative book on Rendering Correctly and Protesting Personal Property Taxes: CLICK HERE
P.S. Business owners are warned not to complete the rendition form in the manner requested by the appraisal district. Doing so will roughly double your Business Personal Property (BPP) taxes. Details available via link: https://www.poconnor.com/8k-business-personal-property-evaluation
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