April 23, 2008

By now property owners have filed their 2008 business personal property renditions and are receiving their real property valuations for 2008. You need to be sure and notice the deadline date for filing protest on these real property valuations. If you feel the valuation proposed by the appraisal district is too high, be sure and file a protest by the deadline date stated on your valuation notice.

Soon you will be receiving the valuation notice for your business personal property valuations. Again, be sure and notice the protest deadline date. If you feel the valuation proposed by the appraisal district is too high, be sure and file a protest by the deadline date.

Please remember the Internet. It is a good source for obtaining estimates on market values of equipment.

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Do not forget about Section 41A Texas Property Code, binding arbitration for real property. In checking at various appraisal districts, I find very little activity from property owners in filing for binding arbitration. The binding arbitration process is relatively quick, and uses an independent arbitrator. You may represent yourself, or have a qualified party represent you. This procedure is a very valuable tool for the property owner and should not be ignored.

Call us for more details on this item, as there is a time limit after the review board’s order.

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Best wishes on saving property tax $$$$$!

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Sincerely,

Steve M. Spencer, CPA