Machinery and Equipment are typically used directly in a manufacturing operation to produce goods. They are typically a mechanically, electrically, or electronically operated device used for performing a task. M&E is often a specialized asset designed to perform specific functions in the manufacturing process. These assets can have wide varying useful lives.
When appraising business personal property (BPP) as described above, the appraisal district uses one or a combination of one of the following methodologies: Year of Acquisition, Book Value to Market Value Conversion, Net Book Value and New Age Mix, plus the use of standardized depreciation tables to determine the property tax value of a BPP account.
Exemptions may also be applicable.
Contact Bettencourt Tax Advisors, LLC for more information on how BTA can help you lower your property tax values.