If within one year following the March 15th, a taxpayer files a listing ( or an addition to a listing) of their personal property, the appraiser must applay a late filing penalty to the assessed value of the property. The late filing penalty is applied only to the portion of the property that is filed after the March 15th deadline. The penalty for late filing is 5% per month up to a maximum of 25%. The penalties are applied as follows:
Date Rendition Filed
|March 16 - April 15
|April 16 - May 15
|May 16 - June 15
|June 16 - July 15
|July 16 - March 14 of following year 25%
Failure to File Penalties [50%]
If within one year following the March 15th filing deadline, the county discovers a taxpayer failed to file a rendition or failed to file a complete rendition, the county appraiser must determine the assessed value of the property and apply a 50% penalty. In instances where the taxpayer fails to file a complete rendition, the penalty is applied only to the omitted or underreported property.
If the county appraiser discovers property that was omitted from the tax roll after June 15th of the current tax year (the date the appraiser certifies the tax roll to the county clerk), but prior to March 15th of the upcoming tax year, the county clerk must place the property on the tax roll as an added tax and apply a 50% penalty to the assessed value.
Note: If a failure to file penalty is applied to the taxpayer's value then the taxpayer later files his rendition within one year of March 15th , the failure to file penalty is no longer applicable. Therefore, the appraiser must apply the appropriate late filing penalty to the assessed value in place of the failure to file penalty.