Owners of tangible personal property used to produce income are nearing an important deadline: they must file a rendition with the Smith County Appraisal District by April 17.
A rendition is a report that lists all the taxable property owned or controlled on Jan. 1 of this year. Property includes inventory and equipment used by a business. Owners do not have to render exempt property, such as church property or an agriculture producer's equipment used for farming.
"The appraisal district may use the information submitted in the rendition to set property values," said Chief Appraiser Michael Barnett.
Owners can also file a report of decreased value to notify the appraisal district of significant depreciation of your property.
"For example, if your property was damaged by a storm, flood or fire last year, you should file a report of decreased value. The appraisal district will look at your property before assigning a value," said Barnett.
In February, Smith County Appraisal District mailed out approximately 8,000 personal property renditions. The last day to file a rendition or report of decreased value is April 17.
Owners may file renditions electronically for 2017 by visiting www.smithcad.org and selecting Electronic Communications/BPP Online Rendition.
A 10 percent to 50 percent penalty may be imposed if a rendition is filed late, incomplete or not at all.
Property owners who need more time to file their renditions may file a written request with the chief appraiser on or before April 17 to receive an automatic extension to May 15. The chief appraiser may also grant an additional 15 days after the postponed deadline, if necessary.
For more information about rendering property, deadline extensions, penalties and rendition forms, taxpayers may contact the Smith County Appraisal District, 245 SSE Loop 323, Tyler, 903-510-8600.