Real Estate & Personal Property Tax

Many companies pay more in local property taxes than they do in sales and income taxes combined and assume that itís just another fixed expense. That doesnít have to be the case. Lowering property taxes by negotiating a fair and equitable assessment is one of the most important steps a company can take to immediately reduce its expenses and increase its cashflow. While most firms pursue income tax strategies, far too few subject property tax assessments to the same degree of scrutiny.

ICPS Business Solutions has experienced and qualified individuals who each have 20-plus years of history providing property tax savings to businesses throughout the United States. We specialize in both real and personal property tax reductions.

A few of the items we study for both real estate and personal property include:
  • Whether the authorities are properly valuing the assets based on the use, type of construction, size, capacity, etc.;
  • The fair market value of the property on the open market;
  • Economic obsolescence factors that may have arisen in the industry or the situs of the property; and,
  • Functional obsolescence that may exist such as add-on construction, out of date design, and/or lack of modern construction materials and methods.
  • Personal property tax returns which could include retired or ghost assets.
  • It is very important that assets be placed on the tax rolls in a fair and market justifiable manner. Should inaccuracies occur, we can address them and employ supportable data to establish an accurate assessment.
We have testified and negotiated property tax reductions with local and state authorities throughout the country for clients including:
  • Light and heavy manufacturing
  • Hotels
  • Shopping malls
  • Chemical and oil refineries
  • Coal and nuclear electric power generating plants
  • Office Buildings
  • Steel mills

TARGET OPPORTUNITIES

  • Industrial & Commercial facilities paying >$50,000 in either real or personal property tax annually.
  • Older Industrial plants with add-on construction throughout the years creating obsolescence.
  • Newly constructed buildings where taxable value is above actual cost to construct.
  • Commercial & Industrial properties.
  • Industrial buildings using concrete tilt-up wall panel construction (a unique opportunity in Indiana).
  • Companies with multiple locations or recently consolidated locations.
 

If we can't save your company money, you pay us nothing!
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