Horror Stories of Business Personal Property Renditions and What You Need to Know to Avoid Your Own.

Abstract: Every year business owners must file a rendition of their business assets that will be taxed based on the ad valorem system we have in Texas. Many business owners do not know about this, overlook it, or do not understand the potential consequences of failing to file the rendition or certain alternative special valuations. Failing to file the required forms could result in unnecessary and excessive tax payments of hundreds of thousands of dollars. Every business owner must know their rights and obligations. 

BIO: Michael J. Zimprich has a J.D. from Texas Wesleyan University (n.k.a. Texas A&M Law) and a master’s degree in accounting from UTEP. He started in real estate in 1997 working for the EPCAD and later became a tax consultant for property owners to protest EPCAD assessed values. Over the past 25 years, he has held state licenses as a tax consultant, RE appraiser, RE sales agent, and mortgage loan officer through the boom of the early 2000s. He has appraised homes and commercial properties, flipped properties, owned and managed real estate, privately financed properties, and owned a part of a title company. When the market crashed in 2008, he became a lawyer that specializes in real estate. In 2022, he sold his property holdings and law practice to focus on property tax and his children.