Texas Property Tax Consultant Exam
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questions and answers |\ |\
How does the chief appraiser appeal ARB decision? -
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CORRECT ANSWERS ✔✔He must get a written document
|\ |\ |\ |\ |\ |\ |\ |\
with all the appraisal district board of directors signatures
|\ |\ |\ |\ |\ |\ |\ |\
approval
|\
Who provides the learning material for ARB members? -
|\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔Comptroller |\ |\
Who pays the ARB members? - CORRECT ANSWERS
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✔✔Appraisal District |\
What are the levels of trade? - CORRECT ANSWERS ✔✔1.
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
Primary producer |\
2. Manufacturer
|\
3. Wholesaler
|\
4. Retailer
|\
How would you argue investment value in ARB for a
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
recently sold hotel? (investment value typically > market
|\ |\ |\ |\ |\ |\ |\ |\
value) - CORRECT ANSWERS ✔✔Buyer is willing to pay a
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
premium because they believe that the value will go up in
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
, future years, however market value is as of January 1 of
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
the current tax year. So the value should not be based off
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
that sale price because it was an investment, but not
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
reflective of the current market value, or based off the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
previous year. |\
25.25D what fraction of the corrected value will result in a
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
reduction? What about the percentage of the original
|\ |\ |\ |\ |\ |\ |\ |\ |\
value? - CORRECT ANSWERS ✔✔1/3 of the corrected
|\ |\ |\ |\ |\ |\ |\ |\
value
25% of the original value
|\ |\ |\ |\
Where is the Texas Property Tax Code located? - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔The Texas Constitution, Article 8
|\ |\ |\ |\ |\ |\
What is SOAH and what is the benefit? - CORRECT
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ANSWERS ✔✔SOAH - State Office of Administrative |\ |\ |\ |\ |\ |\ |\
Hearing Appeals |\
Property value must be over $1,000,000 |\ |\ |\ |\ |\
Filing deposit fee is $1,500.
|\ |\ |\ |\ |\
SOAH is like litigation but without the discovery.
|\ |\ |\ |\ |\ |\ |\
What are the four phases and dates of property tax
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
calendar? - CORRECT ANSWERS ✔✔1. January - May: |\ |\ |\ |\ |\ |\ |\ |\
Appraisal Phase |\
,2. May - June: Equalization Phase
|\ |\ |\ |\ |\
3. July - September: Assessment Phase
|\ |\ |\ |\ |\
4. October - January: Current Collection Phase
|\ |\ |\ |\ |\ |\
When is the valuation of property? - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\ |\
✔✔January 1 |\
Late Homestead Application deadline? Max amount of
|\ |\ |\ |\ |\ |\ |\
years late? - CORRECT ANSWERS ✔✔January 31
|\ |\ |\ |\ |\ |\
up to two years late
|\ |\ |\ |\
When do notices go out? - CORRECT ANSWERS ✔✔April
|\ |\ |\ |\ |\ |\ |\ |\ |\
1st
When is BPP Rendition deadline? - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\
✔✔April 15th |\
When are exemptions and special appraisals due? -
|\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔April 30th |\ |\ |\
When is the last day chief appraiser can send out notices?
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
- CORRECT ANSWERS ✔✔May 1st
|\ |\ |\ |\ |\
, When is the protest deadline? - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\
✔✔May 15th |\
When does the ARB need to approve the appraisal
|\ |\ |\ |\ |\ |\ |\ |\ |\
records? (at least attempt) - CORRECT ANSWERS ✔✔July
|\ |\ |\ |\ |\ |\ |\ |\
20th
When is the Certification of Roll Value by Chief Appraiser
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
to taxing units due? - CORRECT ANSWERS ✔✔July 25th
|\ |\ |\ |\ |\ |\ |\ |\
When is the last day to apply for Sept 1 alternative
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
assessment date for inventory appraisal? - CORRECT |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔July 31 |\ |\
What two days can inventory appraisal have as an
|\ |\ |\ |\ |\ |\ |\ |\ |\
assessment date? - CORRECT ANSWERS ✔✔January 1 or |\ |\ |\ |\ |\ |\ |\ |\
September 1 if you apply |\ |\ |\ |\
What is the alternate appraisal date for inventory? -
|\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔September 1 |\ |\ |\
When do taxing units have to set current year tax rates
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
by? - CORRECT ANSWERS ✔✔September 30
|\ |\ |\ |\ |\
|\ |\ |\ |\ |\
questions and answers |\ |\
How does the chief appraiser appeal ARB decision? -
|\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔He must get a written document
|\ |\ |\ |\ |\ |\ |\ |\
with all the appraisal district board of directors signatures
|\ |\ |\ |\ |\ |\ |\ |\
approval
|\
Who provides the learning material for ARB members? -
|\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔Comptroller |\ |\
Who pays the ARB members? - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\
✔✔Appraisal District |\
What are the levels of trade? - CORRECT ANSWERS ✔✔1.
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
Primary producer |\
2. Manufacturer
|\
3. Wholesaler
|\
4. Retailer
|\
How would you argue investment value in ARB for a
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
recently sold hotel? (investment value typically > market
|\ |\ |\ |\ |\ |\ |\ |\
value) - CORRECT ANSWERS ✔✔Buyer is willing to pay a
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
premium because they believe that the value will go up in
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
, future years, however market value is as of January 1 of
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
the current tax year. So the value should not be based off
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
that sale price because it was an investment, but not
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
reflective of the current market value, or based off the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
previous year. |\
25.25D what fraction of the corrected value will result in a
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
reduction? What about the percentage of the original
|\ |\ |\ |\ |\ |\ |\ |\ |\
value? - CORRECT ANSWERS ✔✔1/3 of the corrected
|\ |\ |\ |\ |\ |\ |\ |\
value
25% of the original value
|\ |\ |\ |\
Where is the Texas Property Tax Code located? - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔The Texas Constitution, Article 8
|\ |\ |\ |\ |\ |\
What is SOAH and what is the benefit? - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔SOAH - State Office of Administrative |\ |\ |\ |\ |\ |\ |\
Hearing Appeals |\
Property value must be over $1,000,000 |\ |\ |\ |\ |\
Filing deposit fee is $1,500.
|\ |\ |\ |\ |\
SOAH is like litigation but without the discovery.
|\ |\ |\ |\ |\ |\ |\
What are the four phases and dates of property tax
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
calendar? - CORRECT ANSWERS ✔✔1. January - May: |\ |\ |\ |\ |\ |\ |\ |\
Appraisal Phase |\
,2. May - June: Equalization Phase
|\ |\ |\ |\ |\
3. July - September: Assessment Phase
|\ |\ |\ |\ |\
4. October - January: Current Collection Phase
|\ |\ |\ |\ |\ |\
When is the valuation of property? - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\ |\
✔✔January 1 |\
Late Homestead Application deadline? Max amount of
|\ |\ |\ |\ |\ |\ |\
years late? - CORRECT ANSWERS ✔✔January 31
|\ |\ |\ |\ |\ |\
up to two years late
|\ |\ |\ |\
When do notices go out? - CORRECT ANSWERS ✔✔April
|\ |\ |\ |\ |\ |\ |\ |\ |\
1st
When is BPP Rendition deadline? - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\
✔✔April 15th |\
When are exemptions and special appraisals due? -
|\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔April 30th |\ |\ |\
When is the last day chief appraiser can send out notices?
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
- CORRECT ANSWERS ✔✔May 1st
|\ |\ |\ |\ |\
, When is the protest deadline? - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\
✔✔May 15th |\
When does the ARB need to approve the appraisal
|\ |\ |\ |\ |\ |\ |\ |\ |\
records? (at least attempt) - CORRECT ANSWERS ✔✔July
|\ |\ |\ |\ |\ |\ |\ |\
20th
When is the Certification of Roll Value by Chief Appraiser
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
to taxing units due? - CORRECT ANSWERS ✔✔July 25th
|\ |\ |\ |\ |\ |\ |\ |\
When is the last day to apply for Sept 1 alternative
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
assessment date for inventory appraisal? - CORRECT |\ |\ |\ |\ |\ |\ |\
ANSWERS ✔✔July 31 |\ |\
What two days can inventory appraisal have as an
|\ |\ |\ |\ |\ |\ |\ |\ |\
assessment date? - CORRECT ANSWERS ✔✔January 1 or |\ |\ |\ |\ |\ |\ |\ |\
September 1 if you apply |\ |\ |\ |\
What is the alternate appraisal date for inventory? -
|\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔September 1 |\ |\ |\
When do taxing units have to set current year tax rates
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
by? - CORRECT ANSWERS ✔✔September 30
|\ |\ |\ |\ |\
