The following information applies to the preprinted form the CAD mails out and the form that can be downloaded from our website:
Mailing address and physical location of the property
The top of the preprinted form lists your company's name, DBA, and mailing address. It also gives the physical address of the property in the upper right hand corner. If any of this information is incorrect, or if you have a blank form, correct or provide the requested information. The physical address applies to the January 1 location of your business. If you moved after January 1, the physical address will not change until the following year. However, you should be certain that we have your current mailing address at all times.
Owner signature, phone number, and notary
In order for a rendition to be valid, it must be signed. We will return unsigned renditions for a signature. A rendition signature only needs to be notarized if the individual signing the form is the authorized agent, and not the owner or officer of the company. Please provide a phone number in case we have questions about information provided on the form.
Business closed, sold, or moved
This status information about your business is very important, since it may change who is responsible for the taxes or what tax entities will be levying tax on the property. Please make sure to provide all of the information and the dates on which any of the transactions occurred.
General Information
This section gives the appraisal district information about your business to help us value your property. In order for the appraisal district to verify the value of your personal property, we still request that you file your rendition form with cost information and the years your assets were acquired. By receiving the requested information, we can more properly value your property, even if you believe the value to be less than $20,000.
Although you may use federal depreciation schedules for developing an opinion of value for your property if you have 50 employees or less, we recommend that you file cost and year of acquisition for your assets. The depreciation tables for federal income tax purposes often understate the market value of the property, and the Appraisal District may reject the rendition information you provide.
Merchandise and Supplies
This section is for reporting goods that you have for sale and supplies. The basis for reporting the cost of your inventory needs to be checked on the form. If your inventory is maintained using the LIFO accounting method, you must provide your LIFO reserve as a separate line item. Make certain to include raw materials and supplies on their respective lines, as these are taxable items. If you are a manufacturing business, remember to include the cost of goods in process, all applicable burden and overhead costs, including labor. Supplies are typically items that are expensed in your business throughout the year. You will need to provide the amount of supplies that were on hand as of January 1.
Fixed Assets or Use Items
In order to properly estimate the value of fixed assets belonging to your business, we need the original cost and the year the assets were acquired, along with a general description. Original cost refers to the amount you paid to acquire the assets. Your cost would include transportation and any other necessary expenses incurred in acquiring the property. If you purchased a used asset, list the amount you paid and the year that you purchased the asset. If you use our rendition form, it has general categories for your assets that will help us estimate the correct value. There are seven columns on our rendition form that will assist you in organizing your business assets. Each column allows you to group the total costs of similar assets by year. We, in turn, apply appropriate depreciation to these costs based on the asset type and in some cases the type of business. Our cost index and depreciation schedule with typical lives for various asset types can be found on the Forms page of our website. Be sure to include expensed items as well as items that have depreciated to zero. All of a company's fixed assets are taxable, even though they may not appear on your depreciation tables. If you have a non-typical asset type, group them in the "Other" column, but make certain to describe the type of asset you have entered in the column. As an example, you may have electronic test equipment or hand tools that would typically receive a shorter year life than what is used on assets placed in the Machinery Equipment column. You would need to group those assets by year in the "Other" column and then note "electronic test equipment" or "hand tools" in the line just below the column.
Leased, Loaned, or Rented Personal Property
Equipment that has been leased, loaned, or rented is taxable. The owner of the property is responsible for paying the taxes; however, as the lessee, you may be contractually obligated to reimburse the owner. In the space provided or on an additional sheet, list the name, address, and phone number of the owner. Give a brief description of the property, the annual rent, and if known, the selling price of the leased items.
Consigned Goods
If you hold consigned goods, you must provide the Appraisal District with the name and address of the consignee. It would also be helpful to give a brief description, amount and cost of the goods. The section also provides an area for information describing property you own that is consigned to others. You will need to provide us with the name of the consignee, the location of the property, description of the merchandise, and the value of the consignment.
Net Book Value or Opinion of Value
The bottom of the rendition form provides a location to enter the net book value of your company's assets, or an opinion of value. We will review this information, and you may be required to provide the Cameron Appraisal District with an explanation and documentation to support your opinion.
