| TO: | Honorable Jim Keffer, Chair, House Committee on Ways & Means |
| FROM: | John S. O'Brien, Deputy Director, Legislative Budget Board |
| IN RE: | HB809 by Hilderbran (Relating to excepting one passenger car or light truck owned by an individual and used for the production of income from required rendition for ad valorem tax purposes.), As Introduced |
The bill would allow a waiver of personal property rendition requirements to certain property owners. An individual who owned and operated only one passenger car or light truck in the course of his or her occupation or profession would not have to render the vehicle for taxation. An individual who owned more than one vehicle could elect to not render one of those vehicles if that individual rendered the other vehicles to the appraisal district.
Passage of the bill could result in appraisal districts receiving less information concerning business personal property owned by small business owners. Although the bill would not exempt any currently taxable business property from property taxation, the sanctioned failure of some small business owners to file a rendition statement with the appraisal district could reduce taxable property values. However, the reduction in property values is not anticipated to be significant.
| Source Agencies: | 304 Comptroller of Public Accounts
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| LBB Staff: | JOB, SD, WP, DLBe
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