TTARA Releases Research Report on Authority of an Appraisal District Board of Directors TTARA has released a research report addressing the Authority of an Appraisal District Board of Directors in response to the actions taken on July 22 by the Tarrant Appraisal District (TAD) board of directors (BOD) at its first meeting which included directors…

In this issue TEA Releases Preliminary TY2024 “Maximum Compressed Rates” (MCR) Franchise/Margin Tax Report Extensions Taxable as Data Processing or Not? Texas Education Agency Releases Preliminary TY2024 “Maximum Compressed Rates” (MCR) The Texas Education Agency has released preliminary MCR (tier 1) tax rates for TY2024. The statewide MCR tax rate dropped to $0.6855 (from $0.6880),…

In this issue Authority of an Appraisal District Board of Directors Comptroller’s Office Proposed Rules Economic Development Highlights Authority of an Appraisal District Board of Directors On July 22, the Tarrant Appraisal District (TAD) board of directors (BOD) held its first meeting to include directors in the three elected positions created by a November 2023…

In this issue New Audit Guidance Issued by Comptroller’s Tax Policy Division PTAD Provides Updated Truth-In-Taxation Forms Reminder: Upcoming Meetings and Events New Audit Guidance Issued by Comptroller’s Tax Policy Division Last week, the Comptroller’s Tax Policy Division issued an audit guidance memo related to chemical plant and petrochemical refinery utility studies and plant turnarounds….

Tax Implications of Hurricane Beryl We hope our Houston area members and their families safely endured Hurricane Beryl and are well on their way to restoring power and recovery. However, disaster recovery does not end with restoration and clean-up; there are local tax implications that we should all be aware of. The major property tax…