Rockwall |
Code of Ordinances |
Chapter 40. TAXATION |
Article III. PROPERTY TAX |
Division 2. PERSONAL PROPERTY |
§ 40-68. Tangible personal property in transit taxed.
(a)
Definitions. The following terms have the same meaning as defined in V.T.C.A., Tax Code § 11.253:
Dealer's motor vehicle inventory, dealer's vessel and outboard motor inventory, dealer's heavy equipment inventory and retail manufactured housing inventory shall have the meanings assigned by V.T.C.A., Tax Code § 23.11 et seq.
Goods-in-transit means tangible personal property that:
(1)
Is acquired in or imported into this state to be forwarded to another location in this state or outside this state;
(2)
Is detained at a location in this state in which the owner of the property does not have a direct or indirect ownership interest for assembling, storing, manufacturing, processing or fabricating purposes by the person who acquired or imported the property;
(3)
Is transported to another location in this state or outside this state not later than 175 days after the date the person acquired the property in or imported the property into this state; and
(4)
Does not include oil, natural gas, petroleum products, aircraft, dealer's motor vehicle inventory, dealer's vessel and outboard motor inventory, dealer's heavy equipment inventory or retail manufactured housing inventory.
Location means a physical address.
Petroleum product means a liquid or gaseous material that is an immediate derivative of the refining of oil or natural gas.
(b)
A person is not entitled to an exemption from taxation of the appraised value of that portion of the person's property that consists of goods-in-transit. A person's property consisting of goods-in-transit is hereby subject to ad valorem taxation pursuant to V.T.C.A., Tax Code § 11.253.
(Ord. No. 07-49, § 1, 11-19-2007)
State law reference
Personal property exemption, Tex. Const. art. 8, § 1-j(a), V.T.C.A., Tax Code § 11.251.