The Texas 50-160 form is a confidential mobile home rendition used to report taxable property owned or managed as of January 1 each year. Property owners must file this form with the county appraisal district between January 1 and April 15, with possible extensions available. Timely filing is crucial to avoid penalties and ensure proper assessment of property value.
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When filling out the Texas 50-160 form, there are several important practices to keep in mind. Here’s a helpful list of what you should and shouldn't do:
50-160 (Rev. 8-03/4)
CONFIDENTIAL
MOBILE HOME RENDITION OF TAXABLE PROPERTY
This rendition covers property you own or manage and control as a fiduciary on January 1 of this year. You must file this rendition with the county appraisal district after January 1 and not later than April 15 of this year. On written request, the chief appraiser must extend the deadline to May 15. You may receive an additional 15-day extension if you request it in writing and show good cause for the extension. If the chief appraiser denies an exemption or an exemption applicable to a property on January 1 terminates during the tax year, you must file a rendition form within 30 days after the termination date. If you provide information substantially equivalent to a rendition to a company contracted with the appraisal district to appraise property, you are not required to file this rendition form. If your property is regulated by the Texas Public Utility Commission, Railroad Commission, the federal Surface Transportation Board, or Federal Energy Regulatory Commission, you are not required to file this rendition. The chief appraiser may request a copy of the annual regulatory report.
When required by the Tax Code or by the chief appraiser, the person rendering property shall use the model form adopted by the Comptroller of Public Accounts, or use a form containing information that is in substantial compliance with the model form if approved by the comptroller.
The chief appraiser may request, either in writing or by electronic means, that you provide a statement containing supporting information indicating how the value rendered was determined. The statement must:
1.summarize information sufficient to identify the property including the physical and economic characteristics relevant to the opinion of value, if appropriate, and the source of the information used;
2.state the effective date of the opinion of value; and
3.explain the basis of the value rendered. If your business has 50 or less employees, you may base the value estimate on the depreciation schedules used for federal income tax purposes.
You must deliver the statement within 21 days of the request.
Appraisal district name
Property owner’s name
Present mailing address
Property identification number
Tax year
City, town or post office, state, ZIP code
Phone (area code and number)
Property address
Type of ownership
Individual
Partnership
Corporation
Trust
Other (describe) _______________________________________
Check the total market value of your property
Under $20,000
Over $20,000.
If you checked “Under $20,000,” you may complete Business Personal Property rendition of Taxable Property Form 50-144 with Schedule A or this form, whichever you choose.
Manufacturer: _______________________________________________
Model: ______________________________________________________
Year Model: _________________________________________________
Length: _____________________________________________________
Width: ______________________________________________________
Serial No.: ___________________________________________________
Property address where mobile home is located:
Name of owner
Do you own the land on which the mobile home is situated?
YES
NO
Property owner’s total estimate of value (optional): $
NOTE: Although rendering a value is not required, such action entitles the property owner to be notified if an appraised value greater than the rendered value is to be submitted to the appraisal review board. Property owners may protest appraised values before the appraisal review board. (Section 25.19, Tax Code)
50-160-2 (Rev. 8-03/4)
Are you the property owner, an employee of the property owner, or an employee of a property owner on behalf of an affiliated entity of the
property owner?
Yes
No
This form must be signed and dated. By signing this document, you attest that the information contained on it is true and correct to the best of
your knowledge and belief. If you checked “Yes” above, sign and date on the first signature line below. No notarization is required.
Signature
__________________________________________________________________ Date _________________
If you checked “No” above, you must complete the following:
I swear that the information provided on this form is true and correct to the best of my knowledge and belief.
Subscribed and sworn before me this ____________day of ____________________________, 20______.
__________________________________________________________
Notary Public, State of Texas
Section 22.26 of the Tax Code states:
(a)Each rendition statement or property report required or authorized by this chapter must be signed by an individual who is required to file the statement or report.
(b)When a corporation is required to file a statement or report, an officer of the corporation or an employee or agent who has been designated in writing by the board of directors or by an authorized officer to sign in behalf of the corporation must sign the statement or report.
If you make a false statement on this form, you could be found guilty of a Class A misdemeanor or a state jail felony under Section 37.10, Penal Code.
If you fail to timely file a rendition or property report required by Texas law, the chief appraiser must impose a penalty in an amount equal to 10 percent of the total taxes due on the property for the current year. If the court determines that you filed a false rendition or report with the intent to commit fraud or to evade the tax or you alter, destroy, or conceal any record, document, or thing or present to the chief appraiser any altered or fraudulent record, document, or thing, or otherwise engage in fraudulent conduct for the purpose of affecting the outcome of an inspection, investigation determination, or other proceeding before the appraisal district, the chief appraiser must impose an additional penalty equal to 50 percent of the total taxes due on the property for the current year.
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The Texas 50-160 form, also known as the Confidential Mobile Home Rendition of Taxable Property, is an important document for property owners and fiduciaries. Along with this form, several other documents may be required or beneficial in the process of property appraisal and taxation. Below is a list of commonly used forms and documents that complement the Texas 50-160 form.
These documents and forms play a crucial role in ensuring compliance with Texas property tax regulations. It is important for property owners to be familiar with these forms to effectively manage their property tax obligations.
Filling out the Texas 50-160 form can be a straightforward process, but many individuals make critical mistakes that can lead to complications. One common error is failing to submit the form by the deadline. The form must be filed with the county appraisal district after January 1 and no later than April 15. If a deadline extension is needed, it is crucial to request it in writing before the original deadline.
Another frequent mistake is neglecting to provide accurate property identification information. The form requires specific details such as the property identification number and the physical address of the mobile home. Incomplete or incorrect information can result in delays or rejection of the form.
People often overlook the importance of signing and dating the form. The signature attests to the truthfulness of the information provided. If the signer is not the property owner, additional steps must be taken to ensure the form is properly completed, including a sworn statement. Failure to sign the form can lead to it being deemed invalid.
Many individuals also misinterpret the property value section. The form asks whether the total market value is under or over $20,000. Selecting the wrong option can lead to filing the incorrect form, which may complicate the appraisal process.
Another mistake involves misunderstanding the requirements for the value estimate. While it is optional to provide a value, doing so can be beneficial. If a property owner chooses to render a value, it should be based on sound data and accurately reflect the property’s worth to avoid issues later.
Additionally, some people fail to respond to requests for supporting information from the chief appraiser. If the appraisal district requests a statement detailing how the value was determined, it is essential to provide this information within the specified timeframe. Ignoring such requests can lead to complications in the appraisal process.
Some property owners mistakenly believe they are exempt from filing the form if they have provided information to a contracted company. However, unless specific conditions are met, they are still required to submit the rendition form. Understanding these nuances is vital to compliance.
Lastly, individuals often underestimate the penalties associated with filing inaccuracies or missing deadlines. A failure to timely file can result in a penalty of 10 percent of the total taxes due. More severe consequences apply if fraudulent activity is suspected. It is imperative to approach the completion of the Texas 50-160 form with diligence and accuracy to avoid these pitfalls.
Misconceptions about the Texas 50-160 form can lead to confusion for property owners. Here are ten common misunderstandings, clarified for better understanding.
Key Takeaways for Filling Out and Using the Texas 50-160 Form:
Completing the Texas 50-160 form is an essential step for reporting your mobile home property for tax purposes. Once you have filled out the form, you will need to submit it to your local county appraisal district by the specified deadline. Ensure that all information is accurate to avoid penalties.