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21 Cards in this Set

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  • Back

Chapter1 – Definitions "Market Value" " Appraised Value" " Taxable Value" "Clerical Error" " Possessor Interest"

*Market Value: the price at which a property would transferfor cash or its equivalent under prevailing market conditions

Appraised Value: The Market Value of property shall bedetermined by the application of generally accepted appraisal methods andtechniques.

Taxable Value: the amount determined afterdeducting the amount of any applicable partial exception.

Possessor interest: an interest that exist as a result ofpossession or exclusive use or a right to the possession or exclusive use of aproperty and that is unaccompanied by ownership of a fee simple or life estatein the property.

Chapter5 – State Administration

b. RatioStudies
c. PerformanceAudits

B)Sec. 5.10. Ratio Studies.(a) At least onceevery two years The comptroller shall publish a report of the median levels of appraisal for each category of property, the coefficient of dispersion around the median level ofappraisal for each category, and any other standardstatistical measures that the comptroller considers appropriate.

C)Thecomptroller shall audit the performance of an appraisal district if it 1) medianlevel of appraisal is less than 0.75 2) thecoefficient of dispersion around the overall median of appraisal exceeds 0.30 3) thedifference between the median levels of appraisal is more than 0.45

Chapter6 Part I – Local Administration

a. AppraisalDistricts

b. Boardof Directors

A) Section 6.01 Appraisal District Established (a) An appraisaldistrict is established in each county(b) The district isresponsible for appraising property in the district for ad valorem tax purposesof each taxing unitthat imposes advalorem taxes on property in the district.(c) An appraisaldistrict is a political subdivision ofthe state.

B) **Sec. 6.03. Board of Directors(a) The appraisaldistrict is governed by a board of directors. Five directors are appointed bythe taxing units that participate in the district as provided by thissection. If the countyassessor-collector is not appointed to the board, thecountyassessor-collector serves as a nonvoting director

Chapter 6 Part II - Local Administration

C. Ex Parte Communications

D. Assessor and Collectors

E. Eligibility of Board Members

C) Sec. 6.411. Ex ParteCommunications; Penalty** A member of an appraisal review board commits an offense if the member communicates with the chief appraiser or another employee or a member of the board of directors of the appraisal district for which the appraisal review board is established in violation of Section 41.66(f). A chief appraiser or another employee of an appraisal district or a property tax consultant or attorney representing a party to a proceeding before the appraisal review board commits an offense if the person communicates with a member of the appraisal review board established for the appraisal district with the intent to influence a decision by the member in the member’s capacity as a member of the appraisal review board. This section does not apply to communications that do not discuss the specific evidence or property involved in hearing currently pending before the appraisal review board. An offence is considered a class C misdemeanor.

E) An individual is ineligible to serve on an appraisal review board if the individual: is related within the second degree to an individual who is engaged in the business of appraising property for compensation. owns property on which delinquent taxes have been owed to a taxing unit for more than 60 days after the date the individual knew or should have known of the delinquency unless: the delinquent taxes and any penalties and interest are being paid under an installment payment agreement A suit to collect the delinquent taxes is deferred or abated

Chapter11 – Taxable Property and Exemptions

All real andtangible personal property is taxable unless exempt by law and is locatedwithin the state. Tangible personalproperty that is used or located outside the state during the preceding taxyear and on January 1st of the current tax year is not taxable by this state. Most intangibleproperty is exempt from ad valor-em taxation.

Subchapter B: Exemptions Public Property generally qualifies for an absolute exemption except: Land owned by the permanent university fund is taxable

Agricultural land owned by a county for the benefit of public school is taxable by all taxing entities Property owned by the state not used for public purposes or if its rented or leased to a private business enterprise.

Also exempt

Tangible Personal property not held for the production of income

Income producing personal property with values less than 500 is exempt

Family supplies and farm supplies

Funeral homes that are not held for profit


Chapter21 – Taxable Situs

Situs = Location

Real Property is taxable by the taxing unit in which the property was located on January 1st.

Taxable if

1) Located on Jan 1st for more than temporary period

2) normally located in unit although its outside the unit on Jan 1st

3) It is normally returned to the unit between uses

4) the owner resides or maintains a principal place of business in the taxing unit.

Chapter22 – Renditions and Other Reports

All personal property used for production of income as fiduciary on Jan 1st shall be rendered for taxation. The rendition statement shall contain

1) Address and name of owner

2) type of property

3) description ( if inventory)

4) taxable situs or physical location

5) good faith estimate of market value

Renditions must not be delivered later than April 15th.

Renditions must be notarized and signed.

10% late fee if not rendered on time.

50% additional penalty if fraud is determined

Appraiser may retain a portion of a penalty collected not to exceed 20%

Chapter23 – Appraisal Methods and Procedures

All taxable property is appraised at its market value as of Jan 1st.

If the appraised value of a property in a tax year is lowered, then the appraised value becomes value for that year.

3 Kinds of Appraisal methods: Cost, Income and Market Data! Know them all page 28!

Inventory: The market value of inventory is the price for which it would sell as a unit to a purchaser who would continue the business.

The appraised value of a homestead for a tax year may not exceed the lesser of the market value or the sum of 10% of the appraised value of last year or the market value of all new improvements to the property.

Chapter24 – Central Appraisal

Page 35

Chapter25 – Local Appraisal

A) By May 15th, the chief appraiser shall prepare the appraisal records listing all property that is taxable in the district and state the value of each.

B) By May 1st the chief appraiser shall deliver a written notice to a property owner of the appraised value of the property

C) Chief appraiser shall separate real from personal state and include a notice fore each.

D) Failure to receive the notice does not affect the validity of the property appraisal or the imposition of any tax based on the appraisal.

F) Notice needs to include market value of the land

2) If Chief appraiser discovers that property was omitted from appraisal roll in any of the preceding five years he shall appraise the property as of January 1st of each year that it was omitted.

** Section 25.25 Correction of Appraisal Roll- the chief appraiser may change the appraisal roll at any time to correct clerical errors or other inaccuracy that does not increase the amount of tax liability.

Chapter26 – Assessment

a. Submission of Rolls to Taxing Units

July 25th the chief appraiser shall prepare and certify to assessor for each taxing unit the appraisal roll.

April 30th: The chief appraiser shall prepare and certify to the assessor an estimate of the taxable value of school district property.

Collection rate: calculated by adding together the total amount of taxes to be levied in the current year and collected before July 1

Current debt: debt service for the current year

** Property is taxed at 100% of its appraised value. A value based on percentage of the appraised value is prohibited.

Chapter31 – Collections

The tax assessor shall prepare and mail tax bills by October 1st.

Sec 31.02 Delinquency date: Feb 1st of the following year.

If tax is mailed after Jan 10th the delinquency date is postponed to the first day of the next month that will provide at least 21st days after the date of mailing for payment.

If a tax bill is mailed that includes taxes for one or more preceding tax years because or error then delinquency date is postponed to Feb 1st of the firs year that will provide a period of at least 180 days.


Tax Liens and Personal Liability




Tax Sales and Redemption

Chapter 41



Appeal through Binding Arbitration


Judicial Review

Chapter 43

Suit Against Appraisal Office

Chapter 111

Collection Procedures

Chapter311 – 320 –

Special Property Tax Provisions