Motor Vehicles
Property taxes for an RV titled are based on the vehicle's ___ and ___.
Age and Curb weight
How many are there?
6
Mobile/manufactured homes are valued at market value and assessed at ____%.
11.5%
Every tangible thing, not forming part or parcel of real property.
What is personal property?
Category with Camping Trailers, Tiny homes, Hot air balloons, Machinery and Equipment not being used
What is "Other Personal Property Not Elsewhere Classified"?
A vehicle with a tag weight of 12,000lbs or less
What is Tax when Tagged?
Oil and Gas renditions must be filed by what date?
April 1
What penalty is applied if a taxpayer filed after March 15th of the current year, but BEFORE March 15 of the following year?
2%-10%
Property owners are required to list any changes to their property by what date?
March 15
Who grants aircraft exemptions?
BOTA (Board of Tax Appeals)
What are the minimum tax amounts for 16/20 vehicles? (2 Answers)
$24-1981 and newer
$12-1980 and older
Commonly mistaken as the 7th subclass of personal property
What is watercraft? [would also accept Taxed-when-tagged vehicles]
Tax roll vehicles are valued at market value and assessed at ___%.
30%
Escaped taxation includes the current and how many prior years?
2
What is unique about the watercraft levy?
It's the county average tax rate from the PRIOR year
What are some characteristics you can learn from the VIN?
Year, make, model, trim, engine, manufacturing location, etc.
CIME is only taxable if it follows what 2 requirements?
Acquired prior June 30, 2006, and Retail cost when new is more than $1,500.
What is the penalty for escaped taxation?
12.5%
As a general rule: where must property be listed? (geographically speaking)
Taxing district where it's located on January 1
Which watercraft can be prorated?
Boats, motors, and boat trailers
What do Tax roll and 16/20 motor vehicles have in common? (3 answers)
Billing procedures, appraisal deadlines, and proration rules
When calculating the appraised value of property in CIME what rules must be followed?
Straight-line depreciation
Value can't be less the 20%
Depreciated over no more than 7 years
Mineral leasehold interests are assessed at either ___% or ___%.
30%/25%
Machinery and equipment appraised value cannot be ___ when the property is in ____ condition.
cannot be adjusted if less than average condition
In order to exempt farm machinery and equipment, it must be ____ and ____ used in a farming or ranching operation.
actually and regularly