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Personal Property Tax
You haven't undergone a personal property tax review in several years.
Personal property taxes are frequently over-reported by taxpayers, because there is no book or class that teaches you how to properly report your personal property. A review by an experienced property tax service provider will identify over-payment issues, so that refunds can be obtained and future property tax liabilities can be reduced.
You've been scheduled for a personal property tax audit.
For a property tax professional, audits are an opportunity to reduce your personal property tax liability for current and past years. However, left unattended most audits will result in increased property tax assessments.
You've purchased substantial fixed assets in recent years, and/or have expanded your facility.
Amounts you report to the assessor as Construction In Progress (CIP) are often double-assessed by the assessor's office. A detailed fixed asset analysis, proper documentation of findings and coordination with both the real and personal property divisions of the assessor's office leads to property tax reductions.
You've recently been involved in a business acquisition/merger.
M&A related changes made to your fixed asset cost basis for book purposes often lead to property tax reporting problems, since book adjustments are typically not allowable for property tax reporting purposes. Catching these problems early prevents increases in your property tax liability, and helps you avoid future property tax audit related assessments.
Real Property Tax
You own/control income generating property that is under-performing.
A property tax valuation can provide the documentation necessary to prove that the fair market value of your property is below the current assessed value of your property, even in the current real estate market.
You own/control property that has substantial unresolved contamination issues.
Proper documentation of contamination issues and presentation of an appeal case showing how the property's fair market value has been negatively affected can result in reduced property taxes.
Your property has experienced a change-in-ownership in the last four years.
If your property was over-assessed, it's still possible to appeal your permanently assigned base year assessment and reduce your property taxes.
For more information, please click here to contact alliantgroup.
For immediate assistance, contact Daryl Jendras.
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