Texas Property Tax Flashcards
A compulsory contribution legally exacted from persons
Tax
A reduction in the local taxes levied on a property for a specific period of time.
Tax Abatement
The unit of value to which the tax rate is applied to determine the tax due.
Tax Base
Listing of important dates and deadlines in completing the annual property tax appraisal, equalization, assessment, and collection phase.
Tax Calendar
In property taxation is the total revenue that will be realized by a tax, not the mileage rate.
Tax Levy
A lien that is automatically attached to property in the amount of its unpaid property taxes
Tax Lien
The factor used to calculate the total tax for the property.
Tax Rate
A receipt showing the taxable value and amount of tax imposed by the unit of the property in one or more tax years.
Tax Receipt
A listing of all parcels of property within a taxing unit submitted from the appraisal district to the assessor/collector.
Tax Roll
The calendar year beginning on January 1 of each year.
Tax Year
The market, or appraised value, less any applicable exemptions.
Taxable Value
The right of government to raise revenue through assessments on valuable good, products, and rights.
Taxation
-A county, an incorporated city or town, a school district, a special district, or any other political unit of this state authorized to ad valorem taxes on property.
Taxing Unit
A concept embodied in the Texas Constitution that requires local taxing units to make taxpayers aware of tax rate proposals and to afford taxpayers the opportunity to roll back or limit tax increases. (Chapter 26).
Truth in Taxation
Unauthorized Practice of Law. (Chapter 1152)
UPL
A fiduciary relationship in which one party, the agent, act as a representative of other.
Agency
Form provided by the State Controller’s Office that stablishes the powers deleted to the agent
Appointment of Agent
Details of a specific parcel of property being appraised by the appraisal district that includes ownership, property description, applicable exemptions, market value, and jurisdictions
Appraisal Record
A listing of appraisal records, as change by order of the ARB
Appraisal Roll
Date on which a filling or payment incur penalty and/or interest
Delinquency Date