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2012 Press Releases

Collin County Appraisal District Reminds Businesses To Render Their Taxable Property By April 16

If you own tangible personal property that is used to produce income, then a rendition must be filed with the Collin County Appraisal District by April 16, 2012.  A rendition is a report that lists all the taxable property you owned or controlled on January 1 of this year.  Property includes inventory and equipment used by a business.  Owners do not have to render exempt property, such as church property or an agriculture producer’s equipment used for farming.

"The appraisal district may use the information submitted in the rendition to set property values," said Bo Daffin, Chief Appraiser.  "If more than one appraisal district appraises a property, the property owner should render in each appraisal district office."

You can also file a report of decreased value to notify the district of significant depreciation of your property.  "For example, if your property was damage by a storm, flood or fire last year, you should file a report of decreased value.  The district will look at your property before assigning a value in 2012," said Daffin.

The last day to file a rendition or report of decreased value is April 16, 2012.  If a rendition is filed late, incomplete or not at all, a 10 to 50 percent penalty may be imposed.  Property owners who need more time to file their renditions may file a written request with the chief appraiser on or before April 16 to receive an automatic extension to May 15 or the next business day.  The chief appraiser may also grant an additional 15 days after the postponed deadline, if necessary.

For more information about rendering property, deadline extensions, penalties and rendition forms, taxpayers may contact the Collin County Appraisal District, 250 Eldorado Pkwy., McKinney, TX  75069, (469) 742-9200.  More information is also available from the Comptroller Property Tax Assistance Division at 1-800-252-9121 and press "2" to access the menu and then press "1" to contact the Information Services Team or visit the Comptroller's Web site at www.window.state.tx.us/taxinfo/proptax/.

Comptroller's Office Encourages Homeowners To Take Advantage Of Homestead Exemptions

Homeowners looking to reduce their property tax bills in 2012 may find some relief by filing a homestead exemption.  Homestead exemptions are offered by counties, cities, school districts and other local taxing units.

A homestead is generally the house and land used as the owner’s principal residence on Jan. 1 of the tax year.  Homestead exemptions reduce the appraised value of your home and thus lower your property taxes.  To apply for an exemption on your residence homestead, contact the Collin County Appraisal District.

Read more: Comptroller's Office Encourages Homeowners To Take Advantage Of Homestead Exemptions

Homeowners Have Payment Options for the Property Taxes Due On The Appreciating Home Value

Texas homeowners may postpone paying the current property taxes due on the appreciating value of their homes by taking advantage of a payment option called "residence homestead tax deferral" and filing a tax deferral affidavit at the Collin County Appraisal District office.

This tax relief allows homeowners to pay the property taxes on 105 percent of the preceding year’s appraised value of their homestead, plus the taxes on any new improvements to the homestead.  The remaining taxes are postponed, but not cancelled, with interest accruing at 8 percent per year.

Once the homeowner files the tax deferral affidavit with the appraisal district, no taxing unit can start or continue a lawsuit for the deferred taxes as long as that person owns and lives in the home. When the homeowner no longer owns and lives in the home, the deferred taxes and interest become due.  If the taxes are not paid, taxing units can then sue to collect the deferred taxes and interest.  Additional penalties are possible.

For complete details about deferring taxes on appreciating value of your home, contact Collin County Appraisal District, 250 Eldorado Pkwy., McKinney, TX  75069, (469) 742-9200.  The Property Tax Assistance Division of the Comptroller’s office can also answer your questions at 1-800-252-9121 and press "2" to access the menu and then press "1" to contact the Informaion Services Team or visit the state Comptroller’s website,at www.window.state.tx.us/taxinfo/proptax/.

Productivity Appraisal Reduces Property Taxes On Farms and Ranches

Texas farmers and ranchers can be granted property tax relief on their land.  They may apply to the Collin County Appraisal District for agricultural productivity appraisal and for a lower appraisal of their land based on how much they will produce, versus what their land would sell for in the open market.

Read more: Productivity Appraisal Reduces Property Taxes On Farms and Ranches