Ken Nolan, Dallas County Appraisal District, Chief Appraiser announced:
The deadline to file business personal property tax renditions has been extended to May 15th.
Owners of personal property, used for the production of income, aka business personal property, are required to “render” property annually or face a 10% penalty.
Owners of business personal property in Dallas, Texas are warned that completing the Dallas County Appraisal District form as requested is not a good idea. It will likely cause you to pay double the correct level of property taxes. I feel so strongly about this I wrote the book (What You Need To Know About Personal Property Valuation) listed below and available on Amazon.
For professional assistance in preparing your business personal property tax rendition, CLICK HERE
Will Covid-19 or $20 Oil Impact Dallas County Property Taxes?
Short answer is NO. Dallas County Appraisal District (DCAD) property values, for purposes of property taxes, will not consider Covid-19 or $20 oil prices, due to the January 1, 2020 valuation date. Dallas Central Appraisal District will give no relief in 2020 for either Covid-19 or $20 oil. They are just following the law. Remaining impact will be considered in 2021.
Owners of business personal property are required to render annually. There is a 10% penalty, in addition to the property taxes, if you do not render. However, if you render, you will likely indicate a value MUCH higher than fair market value.
For the authoritative book on Rendering Correctly and Protesting Personal Property Taxes: CLICK HERE
P.S. Business owners are warned not to complete the rendition form in the manner requested by the appraisal district. Doing so will roughly double your Business Personal Property (BPP) taxes. Details available via link: https://www.poconnor.com/8k-business-personal-property-evaluation
Property your Dallas County property, all of it, by May 15. The deadline is supposed to be extended. But there are no guarantees it will be.
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