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| the owners original cost plus buying expenses plus capital improvements |
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| worth established for each unit of real property for tax purposes by county property appraiser |
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| money or other property that is not like kind which is given to make up any difference in value or equity between exchanged properties |
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| to profit from the sale of an asset including real property |
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| a loss in value for any reason |
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| property that has been decreed to be excluded from taxation or claim by others |
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| legislation that authorizes County property appraisers to assess land use for agricultural purposes according to its current value as agricultural land |
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| real property that is owned a unit of government and is not subject to taxation |
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| a unit of money used to specify a property tax rates 1 dollar for each 1000 dollars of taxable value |
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| property subject to taxation but the owner is partially relieved of the burden |
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| taxes levied against properties to pay for all or part of improvements that will benefit the properties being assessed |
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| be assessed value less allowable exemptions resulting in an amount to which the tax rate is applied to determine property taxes due |
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| an investment that shields items of income or gain from payment of income taxes |
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| step 1 seek an adjustment by contacting the county property appraiser or a representative of that office Step 2 if the property owner's request for an adjustment is rejected the owner may file an appeal with the Value Adjustment Board Step 3 the final step available to property owners seeking a change in assessed value is litigation in the courts |
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Term
| how many members does the Value Adjustment Boaed have. |
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Definition
| board is made of five members three county commissioners and two county school board members |
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| how many days has a homeowner have after the assessment notice is mailed to protest the assessment to the county property appraiser |
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| exemptions from property taxes |
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| Immune properties are city, county, state and federal government properties. Exempt properties include property belonging to churches and nonprofit organizations. Partially exempt property is subject to taxation, but the owner is partially relieved of the burden. |
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