How do I qualify for the $25,000 Tangible Personal Property Tax Exemption?
To qualify and obtain the $25,000 Tangible Personal Property Tax Exemption a return must be filed and sent to the Property Appraiser’s office. If the assessed value is determined to be less than $25,000, you will not be required to file a return in subsequent years unless newly purchase assets cause the total value to exceed $25,000. If that happens, then you will need to file a new return. However, new businesses are required to file in order to qualify.
