Texas Property Tax Consultant Questions and Answers 2024/2025
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Course
Property Tax Consultant
Institution
Property Tax Consultant
Cost of annual Renewal fee
→ $75
functional obsolescence
→ A flaw in construction, materials or design is known as
(Income Producing) Personal Property
→ Property not permanently attached to real estate and other assets such as inventories,
furniture, and machinery
Capitalization Rate...
Texas Property Tax Consultant Questions
and Answers 2024/2025
Cost of annual Renewal fee
→ $75
functional obsolescence
→ A flaw in construction, materials or design is known as
(Income Producing) Personal Property
→ Property not permanently attached to real estate and other assets such as inventories,
furniture, and machinery
Capitalization Rate
→ The capitalization rate is the rate of return on a real estate investment property based
on the income that the property is expected to generate.
Net Operating Income - NOI
→ Net operating income equals all revenue from the property minus all reasonably
necessary operating expenses. Aside from rent, a property might also generate
revenue from parking and service fees, like vending and laundry machines.
What is covered in Chapter 41
→ Local Review & Appeal through binding arbitration
→ property that is taxed on 100% of market value less any exemptions except
Renditions must be filed by
→ April 15
Date that determines taxable status of property
→ January 1
Date Property Taxes become delinquent
→ Feb 1
Deadline to request Binding arbitration
→ 45 days from receipt of Notice of Final Order (notice from ARB hearing)
The valuation of inventory is defined in which section of the Texas Property Tax Code
→ Section 23.12
25.25(c) corrects what kind of error
→ clerical error
25.25(d) corrects what kind of error
→ egregious error (1/3rd too high)
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