The Tax Code assigns most agricultural appraisal responsibilities to the chief appraiser but directs the Comptroller’s office to “promulgate rules specifying the methods to apply and the procedures to use in appraising land designated for agricultural use,” under the 1-d law. The Comptroller, by rule, must develop appraisal manuals for qualified open-space land under the 1-d-1 law. The Comptroller’s office carries out these duties by developing this agricultural appraisal manual, adopting it by rule and making it available on its website. Appraisal districts are to use this manual in appraising qualified open-space land and ag-use land. Examples and figures are illustrative and not mandatory.
This manual is adopted under the rule-making authority of the Comptroller’s Property Tax Assistance Division (PTAD) with the review and counsel of the Texas Department of Agriculture.
The Business Personal Property Department is responsible for the discovery and appraisal of all personal property within the jurisdiction boundaries of Fort Bend CAD. The department completes the appraisal process annually.
Business personal property annual appraisal utilizes various discovery methods including the use of: building permits, newspaper articles and advertisements, internet searches, telephone listings, county DBA records, federal income tax returns, and inspections of new buildings. FBCAD uses business personal property renditions, price guides, industry catalogs, industry websites and surveys available to the district to estimate asset flat rate values.
Commercial property has a business or institutional purpose. It may be an owner-occupied property or an investment property which generates an income stream for the owner.
The three standard appraisal approaches are considered when valuing commercial property. Information from a variety of sources is obtained and detailed analysis is undertaken. Maintaining current cost tables and accurately estimating depreciation are critical functions of the Cost Approach. Obtaining adequate numbers of sales in the marketplace of similar commercial use properties is critical to accurate estimates using the Market Approach. Obtaining accurate income and expense information, and data from the marketplace to establish economic rents, and then developing market-reflected capitalization rates are important to accurately maintain and update models that estimate market value using the Income Approach.
The FBCAD Land Appraisal Manual associated schedules and outlines were developed as a guide to facilitate the review appraisers in establishing market value, using standardized procedures to ensure fair and equitable appraisals throughout the District.
Certainly, no schedule can be constructed to fit all properties. Therefore, when applying the schedules, the appraiser must use his/her experience and judgment to compensate for the individuality of various parcels of real estate.
In the compilation of the FBCAD Land Manual, appraisals were tested by comparison to known market transactions.
This manual is intended to be used as a reference guide. The contents are compiled solely for the purpose of ad valorem taxation within the Fort Bend Central Appraisal District (FBCAD), Texas.
The contents and data were collected from information gathered and supplied by local realtors, local builders, and from a variety of manuals used throughout the state describing recognized appraisal methods and techniques. Information was also compiled from The Field Appraiser Guide issued by the State Comptroller’s office. The Comptroller’s personal property guide has been established as the personal property manual for FBCAD.
The main objective and prime purpose of this manual is to provide uniform methods to establish fair, uniform and equitable market values for all types of residential properties located within the boundaries of FBCAD.
FBCAD’s analyses, opinions and conclusions were developed in conformity with the Uniform Standards of Professional Appraisal Practice (USPAP). This manual has been prepared to use as a
guide to help comply with USPAP.
The Tax Code assigns most timberland appraisal responsibilities to the chief appraiser; however, the Comptroller’s office is required to develop:
- a manual for appraising qualified timberland, with counsel of the Texas A&M Forest Service;
- procedures for verifying that land qualifies for timber use
appraisal and - application forms for distribution to appraisal districts.
This manual is adopted by rule and made available on the Comptroller’s website. Appraisal districts must use this manual in appraising timberland. Examples and figures are illustrative and not mandatory.
In this manual, timber refers to standing trees that are grown to produce commercial wood products, such as sawtimber, pulpwood, poles and chips. Timberland refers to forestland that can produce commercial wood crops.
