Business Assets

Fixed assets in a business consist of furniture, computers, office equipment, telephones, vehicles, shop equipment, heavy machinery, medical equipment and signage to list a few.
In the State of Texas all business tangible personal property is subject to property tax if the following criteria are met as found in Sec. 21.02 of the Texas Property Tax Code:

1) It is located in the unit on January 1 for more than a temporary period;

2) It normally is located in the unit, even though it is outside the unit on January 1, if it is outside the unit only temporarily;

3) It normally is returned to the unit between uses elsewhere and is not located in any one place for more than a temporary period; or

4) The owner resides (for property not used for business purposes) or maintains his principal place of business in this state (for property used for business purposes) in the unit and the property is taxable in this state but does not have a taxable situs pursuant to Subdivisions (1) through (3) of this section.

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