Property Tax Alert: Texas

November 2004

A company that overvalued its mixed inventory due to an employee's use of incorrect information was not entitled to a reappraisal of the inventory for Texas property tax purposes because the employee's mistake did not constitute a clerical error. The employee used information from another employee and an internal balance sheet, rather than the customary warehouse report. This mistake involved the use of incorrect information and was not an error in writing, copying, transcribing, computing, or calculating that qualified as a clerical error under the tax code.

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