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Special Inventory
Texas law provides for the special appraisal of dealers' inventory including heavy equipment, motor vehicles, vessels and outboard motors and manufactured housing retailers. Special inventory appraisal is generally based on sales. Dealers and retailers must file inventory declaration forms with the county appraisal district each year listing the total sales, leases or rentals, as applicable, in the preceding year and an inventory tax statement with the tax office each month.
Heavy Equipment Dealer's Special Inventory Manual
Tax Code Section 23.1241 provides for the appraisal of dealers' heavy equipment inventory for the purpose of property tax computation based on the sales, leases and rentals of heavy equipment in the prior year.
The market value of a dealer's heavy equipment inventory on Jan. 1 is the total annual sales (less sales to dealers, fleet transactions and subsequent sales) for the 12-month period corresponding to the preceding tax year, divided by 12. For an item of heavy equipment that is sold during the preceding tax year after being leased or rented for a portion of that same tax year, the sales price is the sum of the sales price plus the total lease and rental payments received for the item in the preceding tax year.
Dealers must file Form 50-265, Dealer's Heavy Equipment Inventory Declaration (PDF), with the county appraisal district listing the total annual sales and leases/rentals from the inventory in the prior year. Also, the dealer must file with the tax office the monthly Form 50-266, Dealer's Heavy Equipment Inventory Tax Statement (PDF), listing the heavy equipment sold and leased/rented and prepay property taxes for each unit of equipment.
The Texas Comptroller's office publishes the Heavy Equipment Dealers' Special Inventory Manual (PDF) to assist dealers in filing Form 50-265, Dealer's Heavy Equipment Inventory Declaration (PDF), and Form 50-266, Dealer's Heavy Equipment Inventory Tax Statement (PDF), and prepaying property taxes each month.
Manufactured Housing Retailer's Special Inventory Manual
Tax Code Section 23.127 requires that a manufactured housing retailer's inventory be appraised based on the total sales of manufactured homes in the prior year. Retailers must file with the county appraisal district a Form 50-267, Retail Manufactured Housing Inventory Declaration (PDF), listing the total value of the inventory sold in the prior year. Also, the retailer must file with the tax office the monthly Form 50-268, Retail Manufactured Housing Inventory Tax Statement (PDF), listing the manufactured homes sold and prepay their property taxes for each manufactured home.
Motor Vehicle Dealer's Special Inventory
Tax Code Section 23.121 requires that a motor vehicle dealer's inventory is appraised based on the total sales of motor vehicles in the prior year. Dealers must file with the county appraisal district Form 50-244, Dealer's Motor Vehicle Inventory Declaration (PDF), listing the total annual sales from the inventory in the prior year. Also, the dealer must file with the tax office the monthly Form 50-246, Dealer's Motor Vehicle Inventory Tax Statement (PDF), listing the motor vehicles sold and prepay property taxes for each vehicle.
The Comptroller's office publishes the Motor Vehicle Dealer's Special Inventory Manual (PDF) to assist dealers in filing Form 50-244, Dealer's Motor Vehicle Inventory Declaration (PDF), and Form 50-246, Dealer's Motor Vehicle Inventory Tax Statement (PDF), and prepaying property taxes each month.
Vessel and Outboard Motor Dealer's Special Inventory Manual
Tax Code Section 23.124 requires that the market value of a dealer's vessel and outboard motor inventory is based on the total sales of the dealer's vessel and outboard motors in the prior year. Dealers must file with the county appraisal district Form 50-259, Dealer's Vessel and Outboard Motor Inventory Declaration (PDF), listing the total value of the inventory sold in the prior year. Also, the dealer must file with the tax office the monthly Form 50-260, Dealer's Vessel and Outboard Motor Inventory Tax Statement (PDF), listing the vessels and outboard motors sold, and prepay their property taxes for each vessel and outboard motor.
The Comptroller's office publishes the Vessel and Outboard Motor Dealer's Special Inventory Manual to assist dealers in filing Form 50-259, Dealer's Vessel and Outboard Motor Inventory Declaration (PDF), and Form 50-260, Dealer's Vessel and Outboard Motor Inventory Tax Statement (PDF), and prepaying property taxes each month.