Have you rendered your business personal property (BPP) accounts for 2012? With today being the official 2012 deadline to file, there is little time left remaining to complete a rendition. Failure to render today may result in you being subject to pay a 10% penalty according to Texas Senate Bill 340 passed in the summer of 2003. Beginning as of January 1, 2004, a business that does not render on time will automatically pay a 10% penalty on its BPP tax bill. For example, if you have a BPP account assessed for $1,000,000, your annual BPP taxes are $50,000 based on a 5% tax rate. The 10% penalty for this BPP account would be $5,000 ($50,000 times 10% equals $5,000).
It is the property owner’s right to hold the government accountable and protesting property taxes is the easiest way to show them you care. Entrust the experts at Commercial Tax Network (CTN) to appeal your 2012 property taxes by filling out the free evaluation form at http://www.commercialtax.com/freeeval.php. A CTN representative will contact you to learn more about your property and help you realize some possible savings in 2012!
Time is running out!! Literally.
When it comes to filing business personal property renditions, the problem with fixed asset accounting systems is that they are not designed for effective reporting of taxable assets.
The ability to eliminate or exempt items in existing books and records which can be reclassified is the key to reaching equitable assessments.
CTN specializes in this aspect as well. Our team of skilled personal property tax consultants can reclassify the unnecessary items in your existing books and much more.
Mark your calender to render your business personal property before April 15, 2012. Don’t get stuck with a 10% penalty this year for rendering late. Commercial Tax Network will help file and protest all values. Please send your inquires to firstname.lastname@example.org
Unleash the Bulldog that's CTN and let's take a bite into savings!
Businesses are required by state law to file annual Business Personal Property (BPP) rendition statements with county appraisal districts by April 15. If you don’t file your BPP rendition you will be subject to a 10% penalty. So call your property tax experts at Commercial Tax Network and ask for Adam Seiders for more details. Be sure to ask him about a FREE PROPERTY TAX EVALUATION!! 281-897-1119
Written by: Adam Seiders | VP of Business Development / Property Tax Consultant
Welcome to the official blog for Commercial Tax Network (CTN)! We will provide important news and support to property owners or anyone interested in learning the processes of appealing property tax values. We strive to make sure we leave no money on the table when negotiating values against the appraisal districts. With over 100 years of combined consulting experience in property tax appeal services we are simply here to help! CTN Property Tax Reduction Specialist