Tax & Accounting Blog

Property Tax Legislative Changes Continue in Texas

Blog, ONESOURCE, ONESOURCE Property Tax July 2, 2013

Texas — Appraisal Review Board Hearings Amended

Effective June 13, 2013, legislation has been amended to say that state hearings are open to the public except in when the property owner or chief appraiser chooses to disclose confidential information. A joint motion must be filed by both parties to close the hearing. Any confidential information disclosed will be protected under the law. The reason for the change is because evidence related to the taxpayer’s property value is often presented, and the taxpayer is put at a disadvantage if that information is privy to competitors. The amendment will not affect taxable property values, tax rates, or any other variable affecting governmental revenues.


Texas — Property — Heavy Equipment Inventory Definition Changes

Beginning January 1, 2014, legislation changes the definition of “heavy equipment dealer” to not include a bank, savings bank, savings and loan association, credit union, finance companies, or a person who files a rendition or property report on behalf of a person’s heavy equipment inventory for taxation purposes. The bill also defines “dealer’s heavy equipment inventory” as a dealer’s heavy equipment items held for sale, lease or rent during a 12-month period.