You could settle a personal property tax protest at no more than the item's cost when new
What it does
HB 1087 would let a personal property owner ask the chief appraiser to settle a protest at a value no higher than the item's historical cost when new, if the owner provides proof of that cost. The owner and chief appraiser would file a joint motion asking the appraisal review board for an agreed order that includes the settlement terms. The board chairman would have five days to issue the order, or the full board would have to issue it within 30 days, and the order could still be appealed. The change would apply to property taxes for tax years that begin on or after January 1, 2028.
What it means for your community
A business owner who thinks the county has overvalued equipment could use this process to propose a value tied to the item's original cost. The process would apply to personal property owners, including businesses with equipment and people with other taxable personal property. Your county appraisal review board would issue the agreed order, but the settlement would not be final because the order could be appealed. The new process would not change property taxes for earlier tax years.
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