Fort Bend Central Appraisal District Chief Appraiser Jordan Wise announced the personal property rendition deadline has been delayed until May 15th.
For professional assistance in preparing your business personal property tax rendition, Visit Us
Fort Bend County Appraisal District (FBCAD) 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.
If you have substantial business personal property, be wary about rendering as requested on the Fort Bend 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 Fort Bend Central Appraisal District Method.
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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:
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