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Protesting the appraised value of your personal property

Jon Wellingtonshutterstock_150276857

You may not realize that appraisal districts can recategorize your equipment and apply a much less favorable depreciation rate, resulting in higher property taxes.

For example, appraisal districts allow for high-tech medical equipment to be depreciated at a much faster rate (typically five years) than other medical equipment (typically 10 or 12 years). If an appraisal district challenges the categorization of property as high-tech equipment (or you mistakenly treated the high-tech equipment as regular medical equipment on your rendition form), you could end up paying substantially more property tax.

While the regular deadline to protest property taxes has passed, late protests are allowed if the appraised value is more than one-third the correct value. If you would like to learn more about whether you can and/or should file a late protest, or how to prepare better for next year, please feel free to reach out to me directly.

Jon Wellington
Director of State and Local Taxes
Lane Gorman Trubitt, PLLC
2626 Howell St., Ste. 700
Dallas, TX 75204