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Property
taxes in Texas are local taxes adopted by local elected officials.
The appraisal district is responsible for establishing value,
ruling on exemptions and special appraisals like agriculture.
State law governs the entire process.
The tax calendar each
year has four parts. January 1 marks the beginning of the appraisal
phase. Between January 1 and
April 30, the appraisal district values the property in
county and acts
on exemptions, renditions and special appraisals.
The protest period generally begins May 15 after the appraisal
district has sent out appraisal notices. Property owners
may protest the value, denial of exemptions or special
appraisals by filing a protest
and appearing before the Appraisal Review Board, generally
in June. The owner may also meet with an appraiser at the
appraisal district at any time.
The tax rate adoptions phase occurs in August and September for most
taxing districts. Local boards and commisions adopt their budgets and
set the tax rate necessary to fund the budget. All property in Texas
is in a number of taxing districts always including a county and school
district. Your property may also be in a city, village, junior college,
water or other special district.
In Potter and Randall Counties, the county tax office sends out the
tax bills and collects the taxes for all taxing districts
within the boundaries of the county. The tax collection phase usually
starts on
October 1 and taxes are past due or delinquent the following
February 1. Penalty and interest accumulate on most unpaid tax bills
starting
with this date and additional penalties attach to the
bill on July 1 after the taxes become delinquent. Several payment methods
are available.
Appraisal Capitalization Rate for Low Income Housing
Pursuant to Section 11.1825(r) of the Texas Property Tax Code, the Potter-Randall
Appraisal District gives public notice of the capitalization rate to be used for
tax year 2009 to value properties receiving exemption under this section. A basic
capitalization rate of 10% will be used to value these properties. Pursuant to
Section 11.182(d) and (g) of the Texas Property Tax Code, adjustments may be made
to the cap rate based on the individual property characteristics and the information
provided to the chief appraiser.
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