Property includes inventory and equipment used by a business. Owners do not have to render exempt property, such as church property or an agriculture producer’s equipment used for farming.
The appraisal district may use the information submitted in the rendition to set property value. If more than one appraisal district appraises a property, the property owner should render in each appraisal district office.
You can also file a report of decreased value to notify the district of significant depreciation of your property. For example, if your property was damaged by a storm, flood or fire last year, you should file a report of decreased value. The district will look at your property before assigning a value in 2012.
The last day to file a rendition or report of decreased value is April 16, 2012. If a rendition is filed late or incomplete or not at all, a 10 to 50 percent penalty may be imposed. Property owners who need more time to file their renditions may file a written request with the chief appraiser on or before April 16 to receive an automatic extension to May 15 or the next business day. The chief appraiser may also grant an additional 15 days after the postponed deadline, if necessary.
For more information about rendering property, deadline extensions, penalties and rendition forms, taxpayers may contact the Live Oak County Appraisal District at 205 Bowie Street, George West,Texas. More information is also available from the Comptroller’s Property Tax Assistance Division at 1-800-252-9121 or visit the Comptroller’s website at www.window.state.tx.us/taxinfo/proptax/.