TRAVIS CENTRAL APPRAISAL DISTRICT

TRAVIS CENTRAL APPRAISAL DISTRICT

TRAVIS COUNTY, TEXAS

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Can excess funds in the escrow account after all property taxes have been paid to the appropriate taxing units be carried over to the next tax year?

Can excess funds in the escrow account after all property taxes have been paid to the appropriate taxing units be carried over to the next tax year?

by TCAD / Friday, 16 August 2019 / Published in

No, excess funds are carried over to the next tax year. Section 23.1242(j) provides that no later than February 15, the tax collector “shall distribute to each appropriate taxing unit … all funds collected under authority of this section and held in escrow ….” In other words, funds deposited during the calendar year are used to pay the heavy equipment dealer’s tax bill on the dealer’s inventory; the tax collector distributes the deposited funds to the taxing units on or before January 31 of the following year and then any remaining in the account by February 15. No funds are carried forward to pay the next year’s tax bill. Current law allows a heavy equipment dealer to apply for a refund of prepaid taxes on a sale that is a fleet transaction (sale of five or more items of heavy equipment in one calendar year). This is the only provision for returning money in an escrow account to a heavy equipment dealer.

About TCAD

GENERAL INFORMATION

Chief Appraiser:
Marya Crigler

Taxpayer Liaison:
Martin Wilbanks

Address:
850 E Anderson Lane
Austin, Texas 78752

BUSINESS HOURS

Mon - Wed - Fri
7:45 am - 4:45 pm
Tues - Thurs
9:00 am - 4:45 pm

Phone: (512) 834-9317

LATE HOMESTEAD EXEMPTION

A property owner may file a late application for a homestead exemption after the deadline for filing has passed if it is filed not later than two years after the delinquency date for the taxes on the homestead.

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HOLIDAYS

Our office will be closed in observance of

Jan 18..... M.L.K. Jr. Birthday
Feb 15......... President's Day
May 31........... Memorial Day
Jul 05.........Independence Day
Sept 6................ Labor Day
Oct 12................ Columbus Day
Nov 11........... Veteran's Day
Nov 25 & 26...... Thanksgiving
Dec 23 & 24.......... Christmas
Dec 31...........New Years Day

Physical Address

850 East Anderson Lane
Austin, Texas 78752

BUSINESS HOURS

Mon - Wed - Fri
7:45 am - 4:45 pm
Tues - Thurs
9:00 am - 4:45 pm

Phone: (512) 834-9317

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