Texas Tax Code 11.4391 – Late Application for Freeport Exemption
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(a) The chief appraiser shall accept and approve or deny an application for an exemption for freeport goods under § 11.251 after the deadline for filing it has passed if it is filed on or before the later of:
(1) June 15; or
(2) if applicable, the 60th day after the date on which the chief appraiser delivers notice to the property owner under § 22.22.
(b) If the application is approved, the property owner is liable to each taxing unit for a penalty in an amount equal to 10 percent of the difference between the amount of tax imposed by the taxing unit on the inventory or property, a portion of which consists of freeport goods, and the amount that would otherwise have been imposed.
Terms Used In Texas Tax Code 11.4391
- Appraisal: A determination of property value.
- Assessor: means the officer or employee responsible for assessing property taxes as provided by Chapter 26 of this code for a taxing unit by whatever title he is designated. See Texas Tax Code 1.04
- Collector: means the officer or employee responsible for collecting property taxes for a taxing unit by whatever title he is designated. See Texas Tax Code 1.04
- Lien: A claim against real or personal property in satisfaction of a debt.
- Property: means real and personal property. See Texas Government Code 311.005
- Taxing unit: means a county, an incorporated city or town (including a home-rule city), a school district, a special district or authority (including a junior college district, a hospital district, a district created by or pursuant to the Water Code, a mosquito control district, a fire prevention district, or a noxious weed control district), or any other political unit of this state, whether created by or pursuant to the constitution or a local, special, or general law, that is authorized to impose and is imposing ad valorem taxes on property even if the governing body of another political unit determines the tax rate for the unit or otherwise governs its affairs. See Texas Tax Code 1.04
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
(c) The chief appraiser shall make an entry on the appraisal records for the inventory or property indicating the property owner’s liability for the penalty and shall deliver a written notice of imposition of the penalty, explaining the reason for its imposition, to the property owner.
(d) The tax assessor for a taxing unit that taxes the inventory or property shall add the amount of the penalty to the property owner’s tax bill, and the tax collector for the unit shall collect the penalty at the time and in the manner the collector collects the tax. The amount of the penalty constitutes a lien against the inventory or property against which the penalty is imposed, as if it were a tax, and accrues penalty and interest in the same manner as a delinquent tax.