Renditions Due By April 15 for Business Personal Property
A rendition is a report that lists all the taxable personal property you owned or controlled on Jan. 1 of this year. Business personal property includes such things as office equipment, business vehicles, vessels and aircraft, inventory, machinery and other types of equipment, trade fixtures, supplies, work in process and raw materials held for business purposes. Business owners do not have to render if they believe the total value of their personal property is less than $500.
If you own tangible personal property that is used to produce income, you must file a rendition with the appraisal district by April 15. IF a rendition is not filed, filed late or not complete, a 10 percent penalty may be imposed. Filing a fraudulent rendition carries a 50 percent penalty if found guilty.
Property owners who need more time to file their renditions may file a written request with the chief appraiser on or before April 15 to receive an automatic extension to May 15, or the next business day if May 15 falls on a weekend or holiday.
The chief appraiser may also grant an additional 15 days after the postponed deadline, if necessary.
To help business owners complete the required personal property rendition forms before the April 15 filing deadline, the appraisal district is offering six free workshops.