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Texas Property Tax Consultant Exam|
Questions and Verified Answers
All property is taxable unless exempted by...
a. The Texas State Comptroller
b. The appraisal district
c. Federal law, The Texas Constitution, or the Texas Property Tax code
d. The Commissioner's Court - correct-answer-c. Federal law, The Texas
Constitution, or the Texas Property Tax code
Inventory temporarily located in Texas may qualify for Freeport Exemption...
a. If it consists of outdated items
b. If it is temporarily located in Texas for less than 175 days
c. If the owner is able to prove damage and obsolescence
d. If the total amount on the company's balance sheet is less than $20,000 -
correct-answer-b. If it is temporarily located in Texas for less than 175 days
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The total hard construction cost for a development was $1,394,581. The total soft
construction costs for the development were equal to 15% of the hard
construction costs. What was the total dollar amount of the soft construction
costs?
a. $209,187
b. $1,603768
c. $240,565
d. $1,394,581 - correct-answer-a. $209,187
To be eligible for 1-d-1 (Open Space) use valuation, land must be...
a. Devoted primarily to agricultural use
b. Owned by an individual who maintains the property
c. Dedicated to public use
d. Dedicated for use by a qualified exempt entity - correct-answer-a. Devoted
primarily to agricultural use
To qualify for an exemption on a single family residence...
a. An annual application must be filed
b. The property must be owner occupied
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c. The owner must be 65 years of age or older
d. The property must be free and clear of any encumbrances - correct-answer-b.
The property must be owner occupied
Market values for tax purposes are determined by...
a. Each assessor/collector's office in which the property is located
b. The taxing unit in which the property is located
c. The Texas State Comptroller's Office
d. The county appraisal district in which the property is located - correct-answer-
d. The county appraisal district in which the property is located
The Texas Property Tax Code states that an application for agricultural use
designation is due...
a. April 1
b. Before May 1
c. By April 15
d. May 31 - correct-answer-b. Before May 1
Business personal property reports (renditions) are due...
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a. On or before April 30
b. On or before May 15
c. On or before April 15
d. On or before June 1 - correct-answer-c. On or before April 15
The ARB is comprised of...
a. Local government officials
b. Appraisal district employees
c. Citizens appointed by the county tax assessor
d. A panel of citizens appointed to resolve disputes between the appraisal district
and taxpayers - correct-answer-d. A panel of citizens appointed to resolve
disputes between the appraisal district and taxpayers
Tangible personal property is generally taxable if...
a. It is located in the taxing unit on January 1 for more than a temporary period
b. It is located in a Foreign Trade Zone
c. It is located in Texas on or before April 15
d. It is located in Texas on or before May 31 - correct-answer-a. It is located in the
taxing unit on January 1 for more than a temporary period
Texas Property Tax Consultant Exam|
Questions and Verified Answers
All property is taxable unless exempted by...
a. The Texas State Comptroller
b. The appraisal district
c. Federal law, The Texas Constitution, or the Texas Property Tax code
d. The Commissioner's Court - correct-answer-c. Federal law, The Texas
Constitution, or the Texas Property Tax code
Inventory temporarily located in Texas may qualify for Freeport Exemption...
a. If it consists of outdated items
b. If it is temporarily located in Texas for less than 175 days
c. If the owner is able to prove damage and obsolescence
d. If the total amount on the company's balance sheet is less than $20,000 -
correct-answer-b. If it is temporarily located in Texas for less than 175 days
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The total hard construction cost for a development was $1,394,581. The total soft
construction costs for the development were equal to 15% of the hard
construction costs. What was the total dollar amount of the soft construction
costs?
a. $209,187
b. $1,603768
c. $240,565
d. $1,394,581 - correct-answer-a. $209,187
To be eligible for 1-d-1 (Open Space) use valuation, land must be...
a. Devoted primarily to agricultural use
b. Owned by an individual who maintains the property
c. Dedicated to public use
d. Dedicated for use by a qualified exempt entity - correct-answer-a. Devoted
primarily to agricultural use
To qualify for an exemption on a single family residence...
a. An annual application must be filed
b. The property must be owner occupied
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c. The owner must be 65 years of age or older
d. The property must be free and clear of any encumbrances - correct-answer-b.
The property must be owner occupied
Market values for tax purposes are determined by...
a. Each assessor/collector's office in which the property is located
b. The taxing unit in which the property is located
c. The Texas State Comptroller's Office
d. The county appraisal district in which the property is located - correct-answer-
d. The county appraisal district in which the property is located
The Texas Property Tax Code states that an application for agricultural use
designation is due...
a. April 1
b. Before May 1
c. By April 15
d. May 31 - correct-answer-b. Before May 1
Business personal property reports (renditions) are due...
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a. On or before April 30
b. On or before May 15
c. On or before April 15
d. On or before June 1 - correct-answer-c. On or before April 15
The ARB is comprised of...
a. Local government officials
b. Appraisal district employees
c. Citizens appointed by the county tax assessor
d. A panel of citizens appointed to resolve disputes between the appraisal district
and taxpayers - correct-answer-d. A panel of citizens appointed to resolve
disputes between the appraisal district and taxpayers
Tangible personal property is generally taxable if...
a. It is located in the taxing unit on January 1 for more than a temporary period
b. It is located in a Foreign Trade Zone
c. It is located in Texas on or before April 15
d. It is located in Texas on or before May 31 - correct-answer-a. It is located in the
taxing unit on January 1 for more than a temporary period
