Texas Property Tax Consultant Exam #3 Questions and Approved answers 2024/2025
How does the chief appraiser appeal ARB decision? - ANSWER He must get a written document with all the appraisal district board of directors signatures approval
Who provides the learning material for ARB memb...
,How does the chief appraiser appeal ARB decision? - ANSWER He must get
a written document with all the appraisal district board of directors signatures
approval
A
Who provides the learning material for ARB members? - ANSWER
Comptroller
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Who pays the ARB members? - ANSWER Appraisal District
TU
What are the levels of trade? - ANSWER 1. Primary producer
2. Manufacturer
3. Wholesaler
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4. Retailer
How would you argue investment value in ARB for a recently sold hotel?
M
(investment value typically > market value) - ANSWER 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
O
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.
A
25.25D what fraction of the corrected value will result in a reduction? What about
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the percentage of the original value? - ANSWER 1/3 of the corrected value
25% of the original value
JP
Where is the Texas Property Tax Code located? - ANSWER The Texas
Constitution, Article 8
What is SOAH and what is the benefit? - ANSWER 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? - ANSWER 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? - ANSWER January 1
A
Late Homestead Application deadline? Max amount of years late? - ANSWER
VI
January 31
up to two years late
TU
When do notices go out? - ANSWER April 1st
When is BPP Rendition deadline? - ANSWER April 15th
IS
When are exemptions and special appraisals due? - ANSWER April 30th
When is the last day chief appraiser can send out notices? - ANSWER May
M
1st
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When is the protest deadline? - ANSWER May 15th
When does the ARB need to approve the appraisal records? (at least attempt) -
A
ANSWER July 20th
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When is the Certification of Roll Value by Chief Appraiser to taxing units due? -
ANSWER July 25th
JP
When is the last day to apply for Sept 1 alternative assessment date for inventory
appraisal? - ANSWER July 31
What two days can inventory appraisal have as an assessment date? -
ANSWER January 1 or September 1 if you apply
What is the alternate appraisal date for inventory? - ANSWER September 1
, When do taxing units have to set current year tax rates by? - ANSWER
September 30
When are tax bills sent out? - ANSWER October 1
When are tax bills due? - ANSWER January 31st following the tax year. (tax
year 2022 is due Jan 31 2023)
A
When do taxes become delinquent? - ANSWER February 1st
VI
How much do you have to pay when your taxes are delinquent? - ANSWER
7%
TU
When is the last day to file 25.25D? - ANSWER Jan 31st
What is PTAD? - ANSWER Property Tax Assistance Division
IS
What does ARB stand for and what is their role? - ANSWER Appraisal
Review Board
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A board of local citizens that hears disagreements between taxpayers and the
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appraisal district about property taxability and value
What is the breakdown of tax revenue for Texas? - ANSWER Property Tax:
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45.2%
Sales & Gross Receipts Taxes: 44.3%
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Other Taxes: 10.5%
JP
What do taxes fund? - ANSWER public schools, city streets, county roads,
police departments, fire protection, etc
What does Ad Valorem mean? - ANSWER Property tax, Latin translation is
"according to [the] value"
What are taxing units/jurisdiction? - ANSWER counties, cities, school
districts, special districts
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