Texas Property Tax Consultant
A protest against the inclusion of property on the appraisal records for an appraisal district on the
ground that the property does not have taxable situs in that district shall be determined in favor of the
protesting party if - ANShe establishes that the property is subject to the appraisal by another district or
that the property is not taxable in this state.
Delivery of Notice: A notice permitted to be delivered by first-class mail is presumed delivered
a) 5 days after it is deposited in the mail
b) 5 business days after it is deposited in the mail
c) when it is deposited in the mail
d) according to the time stamp on the mail - ANSit is deposited in the mail.
Property - ANSany matter or thing capable of private ownership
Real Property - ANSland, an improvement, a mine or quarry, a mineral in place, standing timber, or an
estate or interest
Improvement - ANSa building, structure, fixture, or fence erected on or affixed to land
Personal Property - ANSProperty that is not real property
Tangible Personal Property - ANSpersonal property that can be seen, weighed, measured, felt, or
otherwise perceive by the senses
Intangible Personal Property - ANSclaim, interest, right. Includes stock, bond, note or account
receivable, franchise, license or permit, contract, and goodwill
Market Value - ANSThe price at which a property would transfer for cash or its equivalent under
prevailing market conditions if:
,-exposed for sale in the open market with a reasonable time for the seller to find a purchaser
-both the seller and purchaser know of all the uses and purposes to which the property is adapted and
for which it is capable of being used and of the enforceable restrictions on its use
-both seller and purchaser seek to maximize their gains and neither is in a position to take advantage of
the exigencies of the other
Appraised Value - ANSvalue determined as provided by Chapter 23 of the Texas Property Tax Code
Assessed Value - ANSamount determined by multiplying the appraised value by the applicable
assessment ratio
Taxable Value - ANSthe amount determined by deducting from assessed value the amount of any
applicable partial exemption
Tax Year - ANSCalendar Year
Assessor - ANSOfficer or employee responsible for assessing property taxes
Collector - ANSOfficer or employee responsible for collecting property taxes for a taxing unit
Examples of tangible personal property, or business personal property, include... - ANSequipment,
furniture, computers, and inventory.
CASH IS NOT TANGIBLE PERSONAL PROPERTY
By ______(date)_______ or as soon thereafter as practicable, the chief appraiser shall prepare appraisal
records listing all property that is taxable in the district and stating the appraised value of each. -
ANSMay 15
If using the market data comparison method of appraisal, the chief appraiser shall use comparable sales
data and shall adjust the ___________________ to the _____________________. - ANScomparable
sales, subject property
, If using the market data comparison method of appraisal, the sale is not considered to be a comparable
sale unless the sale occurred within _______________(months/years) of the date as of which the
market value of the subject property is to be determined, except that a sale that did not occur during
that period may be considered to be a comparable sale if enough comparable properties were not sold
during that period to constitute a representative sample. - ANS24 months aka 2 years
If using the market data comparison method of appraisal, whether a property is comparable to the
subject property shall be determined based on similarities with regard to... - ANSlocation, square
footage of the lot and improvements, property age, property condition, property access, amenities,
views, income, operating expenses, occupancy, and the existence of easements, deed restrictions, or
other legal burdens affecting marketability.
All taxable property is appraised at its market value as of ___(date)___. - ANSJanuary 1
The market value of property shall be determined by the application of generally accepted appraisal
methods and techniques. If the appraisal district determines the appraised value of proper using mass
appraisal standards, the mass appraisal standards must comply with the
_______________________________________. - ANSUniform Standards of Professional Appraisal
Practice
If using the Cost Method of Appraisal, the chief appraiser shall use cost data obtained from
_______________________. - ANSgenerally accepted sources
If using the Cost Method of Appraisal, the chief appraiser shall make any appropriate adjustment for
___________________________. - ANSPhysical, functional, or economic obsolescence
If using the Cost Method of Appraisal, the chief appraiser shall clearly state the reason for any variation
between generally accepted cost data and locally produced cost data if the data vary by more than
_______________ percent - ANS10%
If using the Income Method of Appraisal, the chief appraiser shall analyze comparable rental data
available to the chief appraiser or to the potential earnings capacity of the property, or both, to estimate
the _______________________________ of the property. - ANSGross Income Potential
A protest against the inclusion of property on the appraisal records for an appraisal district on the
ground that the property does not have taxable situs in that district shall be determined in favor of the
protesting party if - ANShe establishes that the property is subject to the appraisal by another district or
that the property is not taxable in this state.
Delivery of Notice: A notice permitted to be delivered by first-class mail is presumed delivered
a) 5 days after it is deposited in the mail
b) 5 business days after it is deposited in the mail
c) when it is deposited in the mail
d) according to the time stamp on the mail - ANSit is deposited in the mail.
Property - ANSany matter or thing capable of private ownership
Real Property - ANSland, an improvement, a mine or quarry, a mineral in place, standing timber, or an
estate or interest
Improvement - ANSa building, structure, fixture, or fence erected on or affixed to land
Personal Property - ANSProperty that is not real property
Tangible Personal Property - ANSpersonal property that can be seen, weighed, measured, felt, or
otherwise perceive by the senses
Intangible Personal Property - ANSclaim, interest, right. Includes stock, bond, note or account
receivable, franchise, license or permit, contract, and goodwill
Market Value - ANSThe price at which a property would transfer for cash or its equivalent under
prevailing market conditions if:
,-exposed for sale in the open market with a reasonable time for the seller to find a purchaser
-both the seller and purchaser know of all the uses and purposes to which the property is adapted and
for which it is capable of being used and of the enforceable restrictions on its use
-both seller and purchaser seek to maximize their gains and neither is in a position to take advantage of
the exigencies of the other
Appraised Value - ANSvalue determined as provided by Chapter 23 of the Texas Property Tax Code
Assessed Value - ANSamount determined by multiplying the appraised value by the applicable
assessment ratio
Taxable Value - ANSthe amount determined by deducting from assessed value the amount of any
applicable partial exemption
Tax Year - ANSCalendar Year
Assessor - ANSOfficer or employee responsible for assessing property taxes
Collector - ANSOfficer or employee responsible for collecting property taxes for a taxing unit
Examples of tangible personal property, or business personal property, include... - ANSequipment,
furniture, computers, and inventory.
CASH IS NOT TANGIBLE PERSONAL PROPERTY
By ______(date)_______ or as soon thereafter as practicable, the chief appraiser shall prepare appraisal
records listing all property that is taxable in the district and stating the appraised value of each. -
ANSMay 15
If using the market data comparison method of appraisal, the chief appraiser shall use comparable sales
data and shall adjust the ___________________ to the _____________________. - ANScomparable
sales, subject property
, If using the market data comparison method of appraisal, the sale is not considered to be a comparable
sale unless the sale occurred within _______________(months/years) of the date as of which the
market value of the subject property is to be determined, except that a sale that did not occur during
that period may be considered to be a comparable sale if enough comparable properties were not sold
during that period to constitute a representative sample. - ANS24 months aka 2 years
If using the market data comparison method of appraisal, whether a property is comparable to the
subject property shall be determined based on similarities with regard to... - ANSlocation, square
footage of the lot and improvements, property age, property condition, property access, amenities,
views, income, operating expenses, occupancy, and the existence of easements, deed restrictions, or
other legal burdens affecting marketability.
All taxable property is appraised at its market value as of ___(date)___. - ANSJanuary 1
The market value of property shall be determined by the application of generally accepted appraisal
methods and techniques. If the appraisal district determines the appraised value of proper using mass
appraisal standards, the mass appraisal standards must comply with the
_______________________________________. - ANSUniform Standards of Professional Appraisal
Practice
If using the Cost Method of Appraisal, the chief appraiser shall use cost data obtained from
_______________________. - ANSgenerally accepted sources
If using the Cost Method of Appraisal, the chief appraiser shall make any appropriate adjustment for
___________________________. - ANSPhysical, functional, or economic obsolescence
If using the Cost Method of Appraisal, the chief appraiser shall clearly state the reason for any variation
between generally accepted cost data and locally produced cost data if the data vary by more than
_______________ percent - ANS10%
If using the Income Method of Appraisal, the chief appraiser shall analyze comparable rental data
available to the chief appraiser or to the potential earnings capacity of the property, or both, to estimate
the _______________________________ of the property. - ANSGross Income Potential
