#TEXAS AG EXEMPTION TRUCK CODE#

A rendition helps ensure an accurate appraisal. The law requires the appraisal district to determine the market value of business personal property, even if the business owner fails to render it. The rendition requirement applies to all types of businesses, including sole proprietorships, partnerships, and corporations. The rendition requirement also applies to property your business manages or controls as a fiduciary. The rendition must be filed with the chief appraiser of the appraisal district in which the property is located.

#TEXAS AG EXEMPTION TRUCK CODE#

Section 22 of the Tax Code requires every owner of business personal property used or located in Texas to report that property annually. Most tax officials refer to tangible personal property subject to property taxation as business personal property. Sections 11.01 and 11.14 of the Tax Code require that property taxes be levied on all tangible personal property that is used for the production of income in Texas. These items are typically referred to as business personal property. Tangible personal property includes such things as furniture, fixtures, inventories, equipment, motor vehicles, vessels, Stored chemicals or petroleum products and aircraft. Tangible personal property that you use to produce income is subject to taxation in the state of Texas.

Intro to Appraisal of Business Personal Propertyįor taxation purposes, your property is classified as either real property (land, buildings, and other items attached to land) or personal property (items that can be owned but are not attached to land).

Texas ag exemption truck