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BusinessHub

SWBC's BusinessHub blog is a one-stop resource for business owners and company decision makers.

 

Recent Posts

Mirror, Mirror on the Wall, Who's to Blame for my Rising Property Taxes?

Once upon a time, in a land far, far away from California, Texas—before it was even called Texas, had a property tax system that was set up to be fair and equitable. It even provided for property tax exemptions. One day, the evil emperor decided to rescind a particularly generous 10-year tax exemption for early Texas colonists and increased tariffs on goods entering from the United States. These new taxes and other laws helped spur the battle for Texas independence.

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Property Tax Bills from the 86th Texas Legislative Session

The 86th Texas Legislature regular session convened on January 8, 2019, and adjourned May 27, 2019. School finance and property taxes were the top priority of the state’s leadership, tapping into surplus revenues as a result of the thriving Texas economy. The Texas Legislature enacted numerous changes to the Tax Code which included substantial property tax reform at a cost of $11.6 billion for the 2020-2021 biennium.

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6 Signs You're Overpaying for Property Taxes

It's the time of year when consumers and business owners alike are turning a blind eye to the pending date on the calendar: April 15. In the case of business owners with commercial property tax bills due, that date you may be shielding your eyes from is May 15—the deadline for filing property tax protests. If you own commercial property, your annual tax bill is likely a substantial expense. Unfortunately, according to the National Taxpayers Union Foundation, around 30-60% of taxable properties in the United States are over-assessed, which—you guessed it—equals higher tax bills. Sadly, even though most consumers and businesses are overpaying due to inaccurately calculated properties, it’s predicted that less than 5% of taxpayers are challenging the assessment. Are you curious if your business is overpaying? Check out the list below that features 6 sure fire ways to help you determine whether our not you're overpaying on your commercial property taxes.

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