Just before the Christmas break in 2017, Congress passed the “Tax Cuts and Jobs Act,” the act signed by President Donald Trump right before the Christmas Holidays, that brought many changes to the tax laws in the US including property tax laws.
The new Act has brought some changes to property tax law for 2018 and impact filing and payment deadlines such as those that are used for filing tax payment notices of Protest and Personal Property Renditions.
The new deadlines must be paid before their due date. Some of the major changes are as follows:
According to the new law, the deadline for a Notice of Protest is May 15, previously the was due on May 31 for every year.
If a Notice of Appraised Value is sent under the Code Section 25.19, the could be extended to the day after the notice is delivered.
According to the new the new deadline for a personal property rendition is for “property located in an appraisal district in which one or more taxing units exempt property under Section 11.251 (Freeport Exemption)” is due on April 1. The previous deadline was around April 15.
The new deadlines and tax laws are applicable the interstate allocation for the personal property. Personal property includes boats, vessels and commercial or business aircraft 31.
And there are many more changes you may or may not know about. At Flagship, we know how the property tax laws, for both commercial and residential properties, have changed and know how to take care of our clients in the ever-changing property tax landscape. Don’t risk it in 2018. Contact Flagship for a no-cost analysis.
Hiring an expert, such as Flagship, to evaluate your property status on your behalf is a good business decision. As experts, we have the people, time and expertise to get you the best tax savings and considerations on your valuable assets and investments.
James English, Owner
Flagship Property Tax Consultants
4606 FM 1960 Rd W, Ste. 560, Houston, TX 77069
Call or Text: 281-771-0241