The Texas Property Tax Code (Code) has been amended in several areas which might be noteworthy in considering your tax liabilities. For example, Chapter 23 of the (Code) has been amended in that appraisal districts must comply with the Uniform Standards of Professional Appraisal Practices (USPAP). Specifically, the Chief Appraiser must now consider the income, cost and sales comparable approach to value. This would apply to all tangible real and personal property. Furthermore, Section 41.43 has shifted the burden of proof, as it relates to tax value appeals, to the appraisal district. Failing to meet this burden could result in valuation appeals in favor of the protesting taxpayer.
The taxpayer should also be aware that certified assessments may be corrected after the June 1 appeal deadline. Sections 25.25 (c), (d) and (h) generally deal with late appeals as it relates to corrections of the appraisal roll (roll). Section 25.25 (c) deals with clerical errors, multiple appraisals, and property that does not exist in the form or location described on the roll. Said motion can be filed any time before the end of five years after January 1 of the tax year. Section 25.25 (d) must be filed prior to the delinquency date and it must be proven that the error on the roll exceeds by more than one third of the correct value. A successful appeal by a taxpayer will be assessed a 10% late correction penalty. Finally, a Section 25.25 (h) is a joint motion to correct the roll between the Chief Appraiser and the taxpayer, filed prior to the delinquency date. It should be noted that a successful filing of a (h) does not carry a 10% late correction penalty and should be filed in conjunction with a (c) to possibly avoid any late penalties. Using the three approaches to value i.e.: a personal property fee appraisal versus assessment derived strictly through the cost approach, could be very cost effective. Additionally, provisions to correct errors to the roll can also be very beneficial to taxpayers in conjunction with USPAP and correcting errors after the protest deadline.