Day: March 20, 2018

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Businesses Must Report Taxable Property By April 2

Houston — If you own a business and have tangible personal property used to produce income such as office equipment or inventory, you must report that property to the Harris County Appraisal District (HCAD) by April 2.

The deadline to file a rendition is usually April 1, but because that date falls on a Sunday this year, the deadline is extended until Monday, April 2.

HCAD is reminding all business owners that they must report personal property to the appraisal district by filing a rendition listing the property.  Personal property is tangible property that can be owned, but it does not include land or other structures attached to the land such as buildings or fences.  Examples of personal property include computers, desks, chairs, office supplies, business inventory, machinery and vehicles used to produce income, along with other items used in the business.

A rendition is a report that lists all the taxable property the business owner owned or controlled on January 1 of this year.  Owners do not have to render exempt property, such as church property with an approved religious exemption or an agriculture producer’s equipment used for farming.

Some renditions may be filed electronically using HCAD’s iFileTM system.  If a unique iFileTMnumber is printed on the rendition form below the account number, the owner may render online by going to www.hcad.org and clicking “iFile A Rendition.”    If no iFileTM number is printed on the rendition form, the owner will need to complete and file the form manually.

“The appraisal district may use the information submitted in the rendition to set business property values,” said Roland Altinger, chief appraiser.

If a rendition is not filed, filed late or not complete, a 10 percent penalty may be imposed.  Filing a fraudulent rendition carries a 50 percent penalty if found guilty.

Property owners who need more time to file their renditions may file a written request with the chief appraiser on or before April 2 to receive an automatic extension to May 1.  The chief appraiser may also grant an additional 15 days after the postponed deadline, for good cause.

The appraisal district has already mailed personal property rendition forms to businesses known to have been operating in Harris County during 2017.   However, all business owners are required to file renditions whether or not they have received notification.   A rendition form is available on the appraisal district’s website at www.hcad.org under the “Forms” tab along with information on the rules of the process.

For more information about rendering property, deadline extensions, penalties and rendition forms, taxpayers may call the appraisal district’s Information Center at 713.957.7800.

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Houston Black Real Estate Association celebrates the 50th Anniversary of Fair Housing Act during Its Annual “Realtist” Week, April 14 -21, 2018

 

Houston Realtists Focus on Growing Black Wealth Through Homeownership

Houston, Texas……… The Houston Black Real Estate Association, (HBREA) a local chapter of the National Association of Real Estate Brokers (NAREB), the country’s oldest, minority real estate trade association is planning a week-long series of events, April 14-21, 2018 in observance of the trade association’s dedication to increasing Black wealth through homeownership. This year, the association celebrates the 50th Anniversary of the Fair Housing Act.

In 1968, NAREB were the catalysts in bringing forward the ultimate lawsuit against the United States government that resulted in legislation of the Fair Housing Act.  Without this Legislation, hundreds of Black families would still face the multitude of racism and discrimination. Culminating the 50th Anniversary, Realtists will meet with policymakers and elected officials to ensure that affordable and sustainable homeownership is supported legislatively, through regulatory or other city planning means.

HBREA chapter president Kimberley Barnes-Henson says, “Our efforts will seek to educate and inspire the public about the never-ending struggle for equality, Democracy in Housing, and NAREB/HBREA role in the landmark effort. We fully understand de-facto desegregation and institutional racism remains a pervasive problem throughout the United States. Thus, as we illuminate the accomplishments of the last 50th years, we ask everyone to join in our current efforts to increase Black homeownership, and improve social and economic conditions for all disenfranchised people.”

Homeownership for Black Americans has been on a steady decline since 2004 when it reached its peak of nearly 50%.  As of the fourth quarter ending 2017 as reported by the U.S. Census Bureau, the Black homeownership rate hovered nationally at 42.1% compared to the non-Hispanic White homeownership rate of just above 72.7%”.

As a result of these staggering numbers of Black homeownership “Realtist“ Week was created to combat the differences.  President Barnes-Henson further says, “Realists” Week events and activities raise awareness that Black homeownership not only strengthens the economic fabric of our city, but also increases the desirability of Houston’s many neighborhoods”.

For more information regarding sponsorship and participation, contact HBREA, 713-551-2092.  For media inquiry and to set-up interviews, contact Foston International, 866-922-2544 or jfoston@fostoninternational.com.