Business Personal Property Rendition Form - Harris County Appraisal District Page 4
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4DEFINITIONS AND REVELANT TAX CODE SECTIONS
Tax Code Section 22.26 states:
whether a person complied with rendition requirement; (2) proceedings for
determination of fraud or intent to evade tax; or (3) a protest under Tax Code Section
(a) Each rendition statement or property report required or authorized by this chapter
41.41.
must be signed by an individual who is required to file the statement or report.
(b) When a corporation is required to file a statement or report, an officer of the
Historical Cost When New: What you paid for the property when it was new, or if
corporation or an employee or agent who has been designated in writing by the
you bought the property used, what the original buyer paid when it was new. If you
board of directors or by an authorized officer to sign in behalf of the corporation
bought the property used, and do not know what the original buyer paid, state what
must sign the statement or report.
you paid with a note that you purchased it used.
Tax Code Section 22.01(c-1) states: In this section:
Inventory: Personal property that is held for sale to the public by a commercial
enterprise.
(1) “Secured party” has the meaning assigned by Section 9.102, Business & Commerce
Personal Property: Every kind of property that is not real property; generally,
Code.
(2) “Security interest” has the meaning assigned by Section 1.201, Business & Commerce
property that is movable without damage to itself or the associated real property.
Code.
Property Address: The physical address of the personal property on Jan. 1 of the
Tax Code Section 22.01(c-2) states:
current tax year. Normally, the property is taxable by the taxing unit where the
property is located.
With the consent of the property owner, a secured party may render for taxation any
property of the property owner in which the secured party has a security interest on
Secured Party: A person in whose favor a security interest is created or provided for
Jan. 1, although the secured party is not required to render the property by
under a security agreement, whether or not any obligation to be secured is
Subsection (a) or (b). This subsection applies only to property that has a historical
outstanding; a person that holds an agricultural lien; a consignor; a person to which
cost when new of more than $50,000.
accounts, chattel paper, payment intangibles, or promissory notes have been sold; a
trustee, indenture trustee, agent, collateral agent, or other representative in whose
Tax Code Section 22.01(d-1) states:
favor a security interest or agricultural lien is created or provided for; or a person that
A secured party is not liable for inaccurate information included on the rendition
holds a security interest arising under Sections 2.401, 2.505, 2.711(c), 2A.508(e),
statement if the property owner supplied the information or for failure to timely file the
4.210, or 5.118, Business and Commerce Code.
In order to render as a "Secured
rendition statement if the property owner failed to promptly cooperate with the
Party",
you must attach a document signed by the property owner indicating consent
secured party. A secured party may rely on information provided by the property
for you to file the rendition. Without the authorization, the rendition is not valid and
owner with respect to:
cannot be processed.
(1) the accuracy of information in the rendition statement;
Security Interest: An interest in personal property or fixtures which secured payment
(2) the appraisal district in which the rendition statement must be filed; and
or performance of an obligation. “Security interest” includes any interest of a
(3) compliance with any provisions of this chapter that require the property owner to supply
consignor and a buyer of accounts, chattel paper, a payment intangible, or a
additional information.
promissory note in a transaction that is subject to Chapter 9, Business and
Address Where Taxable: In some instances, personal property that is only
Commerce Code. “Security interest” does not include the special property interest of
temporarily at its current address may be taxable at another location (taxable situs). If
a buyer of goods on identification of those goods to a contract for sale under Section
you know that this is the case, please list the address where taxable.
2.401, but a buyer may also acquire a “security interest” by complying with Chapter 9.
Except as otherwise provided in Section 2.505, the right of a seller or lessor of goods
Consigned Goods: Personal property owned by another person that you are selling
under Chapter 2 or 2A to retain or acquire possession of the goods is not a “security
by arrangement with that person. If you have consigned goods, report the name and
interest,” but a seller or lessor may also acquire a “security interest” by complying with
address of the owner in the appropriate blank.
Chapter 9. The retention or reservation of title by a seller of goods notwithstanding
Estimate of Quantity: For each type or category listed, the number of items, or other
shipment or delivery to the buyer under Section 2.401 is limited in effect to a
relevant measure of quantity (e.g., gallons, bushels, tons, pounds, board feet).
reservation of a “security interest.” Whether a transaction in the form of a lease
creates a security interest is determined pursuant to Section 1.203, Business and
Fiduciary: A person or institution who manages property for another and who must
Commerce Code.
exercise a standard of care in such management activity imposed by law or contract.
Type/Category: Functionally similar personal property groups. Examples are:
Good Faith Estimate of Market Value: Your best estimate of what the property
furniture, fixtures, machinery, equipment, vehicles, and supplies. Narrower groupings
would have sold for in U.S. dollars on Jan. 1 of the current tax year if it had been on
such as personal computers, milling equipment, freezer cases, and forklifts should be
the market for a reasonable length of time and neither you nor the purchaser was
used, if possible. A person is not required to render for taxation personal property
forced to buy or sell. For inventory, it is the price for which the property would have
appraised under Section 23.24, Tax Code.
sold as a unit to a purchaser who would continue the business. “Good faith estimate
of market value” is not admissible in a subsequent protest, hearing, appeal, suit, or
Year Acquired: The year that you purchased the property.
other proceeding involving the property except for: (1) proceedings to determine
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