Personal Property Tax Reduction Strategies

  • Initial Review & Reconciliation 
    • Reconcile previously filed renditions to the fixed asset data
    • Gain complete understanding of current filing methodologies and classifications
    • Utilize a coding system to manage asset classifications, changes and savings calculations
  • Preliminary Analysis & Site Visit

    • Identify potential areas for savings
    • Plan and organize the site visit to ensure efficiency of on-site client personnel
    • Discussions with plant personnel to gain better understanding of the manufacturing process
    • Review details of specific assets
    • Review capitalization documents, policies and procedures
  • Detailed Examination & Analysis

    • Review findings and results
    • Follow-up with on-site personnel to answer any outstanding questions
    • Identify exemptions and exclusions
    • Analyze inventory
    • Develop a component cost segregation and analysis
    • Finalize re-classifications
      • Special tooling
      • Pollution Control
      • Software/programming
      • Intangibles
      • Real property
      • Idle assets
      • Economic/functional obsolescence
    • Complete valuation analysis
    • Review any exposure issues
  • Recommendation

    • Present and discuss tax reductions opportunities
    • Review tax impact and filing considerations
    • Obtaining final client approval
  • Implementation 

    • Preparation of returns, including inventory and abatements
  • Ongoing Support

    • Full audit/appeal support
    • Future compliance services
    • Future planning and tax reduction
      • Provide accrual and reporting information as necessary
      • Tax abatement, exemption & IFT opportunities
    • Periodic review


View PDF

Need Help?

We’re here to assist you – our team designs customized solutions for each client specifically. We appreciate the fact that every case is unique, and our approach and process is fashioned to be flexible in order to meet the needs of everyone we work with.