Form 50-144 "Business Personal Property Rendition of Taxable Property" - Texas

What Is Form 50-144?

This is a legal form that was released by the Texas Comptroller of Public Accounts - a government authority operating within Texas. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • Released on December 21, 2017;
  • The latest edition provided by the Texas Comptroller of Public Accounts;
  • Easy to use and ready to print;
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  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a fillable version of Form 50-144 by clicking the link below or browse more documents and templates provided by the Texas Comptroller of Public Accounts.

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Download Form 50-144 "Business Personal Property Rendition of Taxable Property" - Texas

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Form
Texas Comptroller of Public Accounts
50-144
Business Personal Property Rendition of Taxable Property
___________________________
C O N F I D E N T I A L
Tax Year
_________________________________________
__________________________
___________________________
Appraisal District Name
Account Number
Phone (area code and number)
___________________________________________________________________________________________________
Address, City, State, ZIP Code
Does one or more taxing units located in the county exempt freeport property under Tax Code Section 11.251? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Yes
No
This document must be filed with the appraisal district office in the county in which your property is taxable. It must not be filed with the Comptroller of Public Accounts. Location
and address information for appraisal district offices may be found on the Comptroller’s website. See important information regarding deadlines on page 4.
STEP 1: Business Name, Owner, Address, Phone, Physical Location or Situs (Required)
________________________________________________
________________________________________________
Business Name
Business Owner
_____________________________________________________________________
___________________________
Mailing Address, City, State, ZIP Code
Phone (area code and number)
___________________________________________________________________________________________________
Property Location Address, City, State, ZIP Code
___________________________________________________
Ownership Type (Optional):
Individual
Corporation
Partnership
Other
STEP 2: Representation
Please indicate if you are filling out this form as
Owner, employee, or employee of an affiliated entity of the owner
Authorized Agent
Fiduciary
Secured Party
___________________________________________________________________________________________________
Name of Owner, Authorized Agent, Fiduciary or Secured Party
_____________________________________________________________________
___________________________
Present Mailing Address, City, State, ZIP Code
Phone (area code and number)
Are you a secured party with a security interest in the property subject to this rendition and with a historical cost new of more than $50,000 as defined by Tax Code
Section 22.01 (c-1) and (c-2)? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Yes
No
If you answered Yes to this question, you must attach a document signed by the property owner indicating consent for you to file the rendition. Without the authorization,
the rendition is not valid and cannot be processed.
STEP 3: Affirmation of Prior Year Rendition (Check only if applicable and your assets were exactly the same as last year’s rendition form.)
________
By checking this box, I affirm that the information contained in the most recent rendition statement filed for a prior tax year (the
tax year) continues to be complete and accurate for the
current tax year.
STEP 4: Business Information (Optional)
Please address all that apply.
Business type:
Manufacturing
Wholesale
Retail
Service
New Business
_________________________________________________________________________
_______________________
Business Description
Square Feet Occupied
___________________________________
___________________________________
_______________________
Business Sold Date
Business Start Date at Location
Sales Tax Permit Number
_________________________________________________________________________
_______________________
New Owner
Business Moved Date
___________________________________
___________________________________
_______________________
New Location
City, State ZIP Code
Business Closed Date
Did assets remain in place as of Jan. 1?
Yes
No
The business owned no taxable assets in this county as of Jan. 1
STEP 5: Market Value
Check the total market value of your property
Under $20,000
$20,000 or more
If you answered Under $20,000, please complete only Schedule A and if applicable, Schedule F. Otherwise, complete Schedule(s) B, C, D, E and/or F, whichever are applicable.
When required by the chief appraiser, you must render any taxable property that you own or manage and control as a fiduciary on Jan. 1 [Tax Code Section 22.01 (b)]. For this type of property, complete
Schedule(s) A, B, C, D, E and/or F, whichever are applicable.
When required by the chief appraiser, you must file a report listing the name and address of each owner of taxable property that is in your possession or under your management on Jan. 1 by bailment, lease,
consignment or other arrangement [Tax Code Section 22.04 (a)]. For this type of property complete Schedule F.
STEP 6: Sign and Date Form
This form must be signed and dated. By signing this document, you attest that the information contained on it is true and correct to the best of your knowledge and belief.
If you are a secured party, property owner, an employee of the property owner or an employee of a property owner on behalf of an affiliated entity of the property owner, print, sign and date on the lines below.
No notarization is required.
________________________________________
_______________________________________
________________
Date
If you are not a secured party, property owner, an employee of the property owner or an employee of a property owner on behalf of an affiliated entity of the property owner, print, sign and date on the lines
below. Notarization is required.
I swear that the information provided on this form is true and correct to the best of my knowledge and belief.
________________________________________
_______________________________________
________________
Date
________
___________________
______
Subscribed and sworn before me this
day of
, 20
.
_________________________________________________________
Notary Public, State of Texas
If you make a false statement on this form, you could be found guilty of a Class A misdemeanor or a state jail felony under Penal Code Section 37.10.
The Property Tax Assistance Division at the Texas Comptroller of Public Accounts provides property tax
For more information, visit our website:
comptroller.texas.gov/taxes/property-tax
information and resources for taxpayers, local taxing entities, appraisal districts and appraisal review boards.
50-144 • 12-17/21
Form
Texas Comptroller of Public Accounts
50-144
Business Personal Property Rendition of Taxable Property
___________________________
C O N F I D E N T I A L
Tax Year
_________________________________________
__________________________
___________________________
Appraisal District Name
Account Number
Phone (area code and number)
___________________________________________________________________________________________________
Address, City, State, ZIP Code
Does one or more taxing units located in the county exempt freeport property under Tax Code Section 11.251? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Yes
No
This document must be filed with the appraisal district office in the county in which your property is taxable. It must not be filed with the Comptroller of Public Accounts. Location
and address information for appraisal district offices may be found on the Comptroller’s website. See important information regarding deadlines on page 4.
STEP 1: Business Name, Owner, Address, Phone, Physical Location or Situs (Required)
________________________________________________
________________________________________________
Business Name
Business Owner
_____________________________________________________________________
___________________________
Mailing Address, City, State, ZIP Code
Phone (area code and number)
___________________________________________________________________________________________________
Property Location Address, City, State, ZIP Code
___________________________________________________
Ownership Type (Optional):
Individual
Corporation
Partnership
Other
STEP 2: Representation
Please indicate if you are filling out this form as
Owner, employee, or employee of an affiliated entity of the owner
Authorized Agent
Fiduciary
Secured Party
___________________________________________________________________________________________________
Name of Owner, Authorized Agent, Fiduciary or Secured Party
_____________________________________________________________________
___________________________
Present Mailing Address, City, State, ZIP Code
Phone (area code and number)
Are you a secured party with a security interest in the property subject to this rendition and with a historical cost new of more than $50,000 as defined by Tax Code
Section 22.01 (c-1) and (c-2)? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Yes
No
If you answered Yes to this question, you must attach a document signed by the property owner indicating consent for you to file the rendition. Without the authorization,
the rendition is not valid and cannot be processed.
STEP 3: Affirmation of Prior Year Rendition (Check only if applicable and your assets were exactly the same as last year’s rendition form.)
________
By checking this box, I affirm that the information contained in the most recent rendition statement filed for a prior tax year (the
tax year) continues to be complete and accurate for the
current tax year.
STEP 4: Business Information (Optional)
Please address all that apply.
Business type:
Manufacturing
Wholesale
Retail
Service
New Business
_________________________________________________________________________
_______________________
Business Description
Square Feet Occupied
___________________________________
___________________________________
_______________________
Business Sold Date
Business Start Date at Location
Sales Tax Permit Number
_________________________________________________________________________
_______________________
New Owner
Business Moved Date
___________________________________
___________________________________
_______________________
New Location
City, State ZIP Code
Business Closed Date
Did assets remain in place as of Jan. 1?
Yes
No
The business owned no taxable assets in this county as of Jan. 1
STEP 5: Market Value
Check the total market value of your property
Under $20,000
$20,000 or more
If you answered Under $20,000, please complete only Schedule A and if applicable, Schedule F. Otherwise, complete Schedule(s) B, C, D, E and/or F, whichever are applicable.
When required by the chief appraiser, you must render any taxable property that you own or manage and control as a fiduciary on Jan. 1 [Tax Code Section 22.01 (b)]. For this type of property, complete
Schedule(s) A, B, C, D, E and/or F, whichever are applicable.
When required by the chief appraiser, you must file a report listing the name and address of each owner of taxable property that is in your possession or under your management on Jan. 1 by bailment, lease,
consignment or other arrangement [Tax Code Section 22.04 (a)]. For this type of property complete Schedule F.
STEP 6: Sign and Date Form
This form must be signed and dated. By signing this document, you attest that the information contained on it is true and correct to the best of your knowledge and belief.
If you are a secured party, property owner, an employee of the property owner or an employee of a property owner on behalf of an affiliated entity of the property owner, print, sign and date on the lines below.
No notarization is required.
________________________________________
_______________________________________
________________
Date
If you are not a secured party, property owner, an employee of the property owner or an employee of a property owner on behalf of an affiliated entity of the property owner, print, sign and date on the lines
below. Notarization is required.
I swear that the information provided on this form is true and correct to the best of my knowledge and belief.
________________________________________
_______________________________________
________________
Date
________
___________________
______
Subscribed and sworn before me this
day of
, 20
.
_________________________________________________________
Notary Public, State of Texas
If you make a false statement on this form, you could be found guilty of a Class A misdemeanor or a state jail felony under Penal Code Section 37.10.
The Property Tax Assistance Division at the Texas Comptroller of Public Accounts provides property tax
For more information, visit our website:
comptroller.texas.gov/taxes/property-tax
information and resources for taxpayers, local taxing entities, appraisal districts and appraisal review boards.
50-144 • 12-17/21
Did you timely apply for a Sept. 1 inventory date? (Optional) . . . . . . . . . . . . . . . . . .
Yes
No
Does your inventory involve interstate/foreign commerce issues?
(Optional) . . . . . .
Yes
No
_____________________________
Does your inventory involve freeport goods? (Optional) . . . . . . . . . . . . . . . . . . . . . .
Yes
No
Account Number
SCHEDULE A: PERSONAL PROPERTY VALUED LESS THAN $20,000
List all taxable personal property by type/category of property (See Definitions and Relevant Tax Code Sections). If needed, you may attach additional sheets OR a computer-generated copy listing the informa-
tion below. If you manage or control property as a fiduciary on Jan. 1, also list the names and addresses of each property owner. “Good faith estimate of market value” or “historical cost when new” is optional for
Schedule A only.
Estimate of
Good Faith
Historical
OR
AND
Quantity of
Estimate of
Cost
Year
Property Owner Name/Address
General Property Description by Type/Category
Each Type
Market Value*
When New**
Acquired**
(if you manage or control property as a fiduciary)
PERSONAL PROPERTY VALUED AT $20,000 OR MORE
SCHEDULE B: INVENTORY, RAW MATERIALS AND WORK IN PROCESS
List all taxable inventories by type of property. If needed, attach additional sheets OR a computer-generated copy listing the information below. If you manage or control property as a fiduciary on Jan. 1, also list
the names and addresses of each property owner.
Estimate of
Good Faith
Historical
Property Address or
Quantity of
Estimate of
OR
Cost
AND
Year
Property Owner Name/Address
Property Description by Type/Category
Address Where Taxable
Each Type
Market Value*
When New**
Acquired**
(if you manage or control property as a fiduciary)
SCHEDULE C: SUPPLIES
List all supplies by type of property. If needed attach additional sheets OR a computer generated copy listing the information below. If you manage or control property as a fiduciary on Jan. 1, also list the names
and addresses of each property owner.
Estimate of
Good Faith
Historical
Property Address or
Quantity of
Estimate of
Cost
Year
Property Owner Name/Address
OR
AND
Property Description by Type/Category
Address Where Taxable
Each Type
Market Value*
When New**
Acquired**
(if you manage or control property as a fiduciary)
SCHEDULE D: VEHICLES AND TRAILERS AND SPECIAL EQUIPMENT
List only vehicles that are licensed in the name of the business as shown on Page 1. Vehicles disposed of after Jan. 1 are taxable for the year and must be listed below. If needed,attach additional sheets OR a
computer generated listing of the information below. Report leased vehicles under Schedule F. Leased vehicles must be reported showing the name and address of the owner.
Good Faith
Historical Cost
Estimate of
Year
Year
Make
Model
Vehicle Identification Number (VIN)
OR
When New**
AND
Market Value*
Acquired**
(optional)
(optional)
(optional)
(optional)
(Omit Cents)
* If you provide an amount for the good faith estimate of market value, you need not complete a historical cost when new and year acquired. Good faith estimate of market value is not admissible in a subsequent protest, hearing, appeal, suit or other
proceeding involving the property except for: (1) proceedings to determine whether a person complied with rendition requirement; (2) proceedings for determination of fraud or intent to evade tax; or (3) a protest under Tax Code Section 41.41.
** If you provide an amount in historical cost when new and year acquired, you need not provide a good faith estimate of market value.
comptroller.texas.gov/taxes/property-tax
For more information, visit our website:
Page 2
50-144 • 12-17/21
_____________________________
Account Number
SCHEDULE E: FURNITURE, FIXTURES, MACHINERY, EQUIPMENT, COMPUTERS
Total (by year acquired) all furniture, fixtures, machinery, equipment and computers (new or used) still in possession on Jan. 1. Items received as gifts are
to be listed in the same manner. If needed, attach additional sheets OR a computer generated listing of the information below.
Furniture and Fixtures
Machinery and Equipment
Office Equipment
Good Faith
Good Faith
Good Faith
Historical Cost
Historical Cost
Historical Cost
OR
OR
OR
Year
Estimate of
Year
Estimate of
Year
Estimate of
When New**
When New**
When New**
Acquired
Market Value*
Acquired
Market Value*
Acquired
Market Value*
(Omit Cents)
(Omit Cents)
(Omit Cents)
2017
2017
2017
2016
2016
2016
2015
2015
2015
2014
2014
2014
2013
2013
2013
2012
2012
2012
2011
2011
2011
2010
2010
2010
2009
2009
2009
2008
2008
2008
2007
2007
2007
2006
2006
2006
2005
2005
2005
2004
2004
2004
& Prior
& Prior
& Prior
TOTAL:
TOTAL:
TOTAL:
Computer Equipment
POS/Servers/Mainframes
Other (any other items not listed in other schedules)
Good Faith
Good Faith
Good Faith
Historical Cost
Historical Cost
Historical Cost
Year
OR
Estimate of
Year
OR
Estimate of
Year
OR
Estimate of
When New**
When New**
When New**
Acquired
Market Value*
Acquired
Market Value*
Acquired
Description
Market Value*
(Omit Cents)
(Omit Cents)
(Omit Cents)
2017
2017
2017
2016
2016
2016
2015
2015
2015
2014
2014
2014
2013
2013
2013
2012
2012
2012
2011
2011
2011
2010
2010
2010
2009
2009
2009
& Prior
& Prior
& Prior
TOTAL:
TOTAL:
TOTAL:
SCHEDULE F: PROPERTY UNDER BAILMENT, LEASE, CONSIGNMENT OR OTHER ARRANGEMENT
List the name and address of each owner of taxable property that is in your possession or under your management on Jan. 1 by bailment, lease,
consignment or other arrangement. If needed, attach additional sheets OR a computer-generated copy listing the information below.
Property Owner’s Name
Property Owner’s Address
General Property Description
* If you provide an amount for the good faith estimate of market value, you need not provide historical cost when new and year acquired. Good faith estimate of market value is
not admissible in a subsequent protest, hearing, appeal, suit or other proceeding involving the property except for: (1) proceedings to determine whether a person complied
with rendition requirement; (2) proceedings for determination of fraud or intent to evade tax; or (3) a protest under Tax Code Section 41.41.
** If you provide an amount for historical cost when new and year acquired, you need not provide good faith estimate of market value.
comptroller.texas.gov/taxes/property-tax
For more information, visit our website:
Page 3
50-144 • 12-17/21
Form
Texas Comptroller of Public Accounts
50-144
IMPORTANT INFORMATION
GENERAL INSTRUCTIONS: This form is for use in rendering, pursu-
Failure to comply in a timely manner is considered to be a failure to
ant to Tax Code Section 22.01, tangible personal property used for the
timely render and the Tax Code requires that penalties be applied by
production of income that you own or manage and control as a fiduciary
the chief appraiser.
on Jan. 1 of this year.
PENALTIES: The chief appraiser must impose a penalty on a person
FILING AND DEADLINES: Rendition statements and property reports
who fails to timely file a required rendition statement or property report
must be delivered to the chief appraiser after Jan. 1 and not later than
in an amount equal to 10 percent of the total amount of taxes imposed
April 15, except as provided by Tax Code Section 22.02. (See below for
on the property for that year by taxing units participating in the appraisal
different deadlines in certain appraisal districts.) On written request by
district. The chief appraiser must impose an additional penalty on the
the property owner, the chief appraiser shall extend a deadline for filing
person equal to 50 percent of the total amount of taxes imposed on the
a rendition statement or property report to May 15. The chief appraiser
property for the tax year of the statement or report by the taxing units
may further extend the deadline an additional 15 days upon good cause
participating in the appraisal district if it is finally determined by a court
shown in writing by the property owner.
that:
(1) the person filed a false statement or report with the intent to commit
DIFFERENT DEADLINES IN CERTAIN APPRAISAL DISTRICTS:
fraud or to evade the tax; or
Rendition statements and property reports for property located in an
appraisal district in which one or more taxing units exempt freeport
(2) the person alters, destroys or conceals any record, document or
property under Tax Code Section 11.251 must be delivered to the chief
thing, or presents to the chief appraiser any altered or fraudulent
appraiser not later than April 1. On written request by the property
record, document or thing, or otherwise engages in fraudulent
owner, the chief appraiser shall extend this deadline to May 1. The
conduct, for the purpose of affecting the course or outcome of an
chief appraiser may further extend the deadline an additional 15 days
inspection, investigation, determination or other proceeding before
for good cause shown in writing by the property owner.
the appraisal district.
TERMINATED EXEMPTION: Pursuant to Tax Code Section 22.02, if
SPECIAL INSTRUCTIONS: Certain dealers of motor vehicle inventory
an exemption applicable to a property on Jan. 1 terminates during the
may elect to file renditions under Tax Code Chapter 22, rather than file
tax year, the person who owns or acquires the property on the date
declarations and tax statements under Tax Code Chapter 23. Tax Code
applicability of the exemption terminates shall render the property
Section 23.121(a)(3) allows a dealer to make this election if it (1) does
for taxation within 30 days after the date of termination. If the chief
not sell motor vehicles that are self-propelled and designed to transport
appraiser denies an application for an exemption for property subject
persons or property on a public highway; (2) meets either of the fol-
to rendition pursuant to Tax Code Section 22.01(a), the person who
lowing two requirements: (a) the total annual sales from the inventory,
owns the property on the date the application is denied shall render
less sales to dealers, fleet transactions, and subsequent sales, for the
the property for taxation in the required manner within 30 days after
preceding tax year are 25 percent or less of the dealer’s total revenue
the date of denial.
from all sources during that period, or (b) the dealer did not sell a motor
vehicle to a person other than another dealer during the preceding tax
INSPECTION OF PROPERTY: Pursuant to Tax Code Section 22.07,
year and the dealer estimates that the dealer’s total annual sales from
the chief appraiser or an authorized representative may enter the
the dealer’s motor vehicle inventory, less sales to dealers, fleet transac-
premises of a business, trade or profession and inspect the property to
tions, and subsequent sales, for the 12-month period corresponding to
determine the existence and market value of tangible personal property
the current tax year will be 25 percent or less of the dealer’s total rev-
used for the production of income and having a taxable situs in the
enue from all sources during that period; (3) files with the chief appraiser
district.
and the tax collector by Aug. 31 of the tax year preceding Jan. 1 on a
REQUEST FOR STATEMENT REGARDING VALUE: Pursuant to Tax
form prescribed by the Comptroller a declaration that the dealer elects
Code Section 22.07, the chief appraiser may request, either in writing
not to be treated as a dealer under Tax Code Section 23.121 in the cur-
or by electronic means, that the property owner provide a statement
rent tax year; AND (4) renders the dealer’s motor vehicle inventory in
containing supporting information indicating how value rendered was
the current tax year by filing a rendition with the chief appraiser in the
determined. The property owner must deliver the statement to the chief
manner provided by Tax Code Chapter 22. A dealer who makes this
appraiser, either in writing or by electronic means, not later than the
election must file the declaration annually with the chief appraiser and
21st day after the date the chief appraiser’s request is received. The
the tax collector by Aug. 31 of the preceding tax year, so long as the
statement must:
dealer meets the eligibility requirements of law.
(1) Summarize information sufficient to identify the property, including:
A dealer of heavy equipment inventory may render its inventory by fil-
(A) the physical and economic characteristics relevant to the
ing a rendition statement or property report as provided by Tax Code
opinion of value, if appropriate; and
Chapter 22. If the dealer files a rendition, the dealer is not considered
(B) the source of the information used;
to be a dealer as defined by Tax Code Section 23.1241(a)(1). A heavy
equipment inventory dealer has the option to render or to file declara-
(2) state the effective date of the opinion of value; and
tions and tax statements, without filing additional declarations with the
(3) explain the basis of the value rendered.
chief appraiser or tax collector.
comptroller.texas.gov/taxes/property-tax
For more information, visit our website:
Page 3
Page 4
50-144 • 12-17/21
Form
Texas Comptroller of Public Accounts
50-144
DEFINITIONS AND RELEVANT TAX CODE SECTIONS
Tax Code Section 22.26 states:
(a) Each rendition statement or property report required or authorized by this chapter must be signed by an individual
who is required to file the statement or report.
(b) When a corporation is required to file a statement or report, an officer of the corporation or an employee or agent who
has been designated in writing by the board of directors or by an authorized officer to sign in behalf of the corpora-
tion must sign the statement or report.
Tax Code Section 22.01(c-1) states:
In this section:
(1) “Secured party” has the meaning assigned by Section 9.102, Business & Commerce Code.
(2) “Security interest” has the meaning assigned by Section 1.201, Business & Commerce Code.
Tax Code Section 22.01(c-2) states:
With the consent of the property owner, a secured party may render for taxation any property of the property owner in
which the secured party has a security interest on Jan. 1, although the secured party is not required to render the property
by Subsection (a) or (b). This subsection applies only to property that has a historical cost when new of more than $50,000.
Tax Code Section 22.01(d-1) states:
A secured party who renders property under Subsection (c-2) shall indicate the party’s status as a secured party and shall
state the name and address of the property owner.
A secured party is not liable for inaccurate information included on the rendition statement if the property owner supplied
the information or for failure to timely file the rendition statement if the property owner failed to promptly cooperate with the
secured party. A secured party may rely on information provided by the property owner with respect to:
(1) the accuracy of information in the rendition statement;
(2) the appraisal district in which the rendition statement must be filed; and
(3) compliance with any provisions of this chapter that require the property owner to supply additional information.
Address Where Taxable: In some instances, personal property that
Secured Party: A person in whose favor a security interest is created
is only temporarily at its current address may be taxable at another
or provided for under a security agreement, whether or not any obliga-
location (taxable situs). If you know that this is the case, please list the
tion to be secured is outstanding; a person that holds an agricultural
address where taxable.
lien; a consignor; a person to which accounts, chattel paper, payment
intangibles or promissory notes have been sold; a trustee, indenture
Consigned Goods: Personal property owned by another person that
trustee, agent, collateral agent or other representative in whose favor
you are selling by arrangement with that person. If you have consigned
a security interest or agricultural lien is created or provided for; or a
goods, report the name and address of the owner in the appropriate
person that holds a security interest arising under Business and Com-
blank.
merce Code Sections 2.401, 2.505, 2.711(c), 2A.508(e), 4.210 or 5.118.
Estimate of Quantity: For each type or category listed, the number
Security Interest: An interest in personal property or fixtures which
of items or other relevant measure of quantity (e.g., gallons, bushels,
secured payment or performance of an obligation. Security interest
tons, pounds, board feet).
includes any interest of a consignor and a buyer of accounts, chattel
Fiduciary: A person or institution who manages property for another
paper, a payment intangible or a promissory note in a transaction that
is subject to Business and Commerce Code Chapter 9. Security inter-
and who must exercise a standard of care in such management activ-
ity imposed by law or contract.
est does not include the special property interest of a buyer of goods
on identification of those goods to a contract for sale under Section
Good Faith Estimate of Market Value: Your best estimate of what
2.401, but a buyer may also acquire a security interest by complying
the property would have sold for in U.S. dollars on Jan. 1 of the current
with Chapter 9. Except as otherwise provided in Section 2.505, the
tax year if it had been on the market for a reasonable length of time
right of a seller or lessor of goods under Chapter 2 or 2A to retain
and neither you nor the purchaser was forced to buy or sell. For inven-
or acquire possession of the goods is not a security interest, but a
tory, it is the price for which the property would have sold as a unit to
seller or lessor may also acquire a security interest by complying with
a purchaser who would continue the business.
Chapter 9. The retention or reservation of title by a seller of goods not-
Historical Cost When New: What you paid for the property when it
withstanding shipment or delivery to the buyer under Section 2.401 is
was new or, if you bought the property used, what the original buyer
limited in effect to a reservation of a security interest. Whether a trans-
action in the form of a lease creates a security interest is determined
paid when it was new. If you bought the property used and do not
know what the original buyer paid, state what you paid with a note that
pursuant to Business and Commerce Code Section 1.203.
you purchased it used.
Type/Category: Functionally similar personal property groups. Exam-
ples are: furniture, fixtures, machinery, equipment, vehicles and sup-
Inventory: Personal property that is held for sale to the public by a
plies. Narrower groupings such as personal computers, milling equip-
commercial enterprise.
ment, freezer cases and forklifts should be used, if possible. A person
Personal Property: Every kind of property that is not real property;
is not required to render for taxation personal property appraised
generally, property that is movable without damage to itself or the
under Tax Code Section 23.24.
associated real property.
Year Acquired: The year that you purchased the property.
Property Address: The physical address of the personal property on
Jan. 1 of the current tax year. Normally, the property is taxable by the
taxing unit where the property is located.
comptroller.texas.gov/taxes/property-tax
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