|
This is the time of year when businesses typically prepare their
personal property renditions
for local tax jurisdictions. However, hotel and motel properties
in Bexar County, (San Antonio) Texas don’t have to bother.
The Texas Tax Code
was amended last year by the Legislature.
SB 771 adds subsection 23.24(b), which states, “In
determining the market value of the real property appraised on
the basis of rental income, the chief appraiser may not
separately appraise or take into account any personal property
valued as a portion of the income of the real property…”
Patrick Romo,
manager of the personal property division for the Bexar County
Appraisal District, confirms that hotels, motels and apartments
in his area will no longer be required to file personal property
renditions. It’s unclear at this time whether all counties in
the state will follow suit.
|
