Personal property tax consulting
Personal property tax consulting
Know your portfolio and minimize your taxes
Tax minimization strategies
Whether a thorough review is overdue, or a property is experiencing functional or economic challenges, strong evidence is critical for successfully challenging an assessment, and in certain cases this includes third-party appraisals. Our success in obtaining reductions is a result of explorating all avenues of tax relief, a thorough and concise presentation of facts, and data and expert testimony.
The differences between property tax requirements and federal income tax regulations/GAAP requirements often lead to over-reporting of inventory. For all levels of trade, with an in-depth understanding of your operations as well as external forces and a data-driven approach will ensure the appropriate cost basis is reported and inventory is fairly valued.
Managing personal property assessments separate from real estate assessments often results in overpaid taxes. A thorough analysis of the assessor work papers is necessary for both the real and personal property side by side to identify, prove, and eliminate double taxation. We provide our clients with complex, industrial, and manufacturing properties an integrated service plan for real and personal property tax to help avoid double taxation, preserve and expand company relations in the local community, and explore all avenues of savings, including discretionary incentives.
- Appeals and refund claims
- Valuation studies and appraisals
- Double taxation reviews
- Fixed asset reviews and unrecorded disposal analysis
- Life studies and depreciation mappings
- Inventory reporting and valuation
- Exemptions, incentives, and abatements
- Comprehensive property tax consulting services for specialty use properties
“We have been impressed with Altus Group’s approach to the personal property tax engagement. The engagement team quickly identified savings strategies that had an impact across the board, as well as targeted the material states and issues to ensure our tax was minimized for the next calendar year. The team has also been tremendously helpful in assisting us with audits, reducing the auditor’s findings and identifying additional savings.”
Strategic reporting and ongoing management
Gain an in-depth knowledge of your properties, by understanding industry and market trends that impact the valuation of your real and personal property. By closely tracking critical dates and monitoring assessments and liabilities, we will recommend and file appeals so savings opportunities are not missed.
Whether in house or third-party – there is an opportunity to strengthen jurisdiction relations and minimize taxes. Not only are we highly effective at managing audit information exchange to mitigate risk, we are also often successful in turning an audit into a refund opportunity.
Our compliance specialists have extensive experience with tax minimization projects, which helps ensure the application of those strategies identified through a consulting project will be carried forward to future filings.
- Portfolio management
- Audit defense assistance
“…It’s very reassuring knowing that an outsource partner will offer dedicated, accurate, and timely services. I would recommend Altus’ services to any organization looking to outsource tax functions or for consulting services.”
Personal property tax for commercial real estate
Make informed decisions with our tax data and thorough analysis of your properties to uncover unique situations that can impact your assessment.
Real property tax
Improve your real estate’s bottom line with technology-enabled real estate property tax services combined with national and local coverage.
Contact a qualified professional
Our multi-disciplinary team of professionals brings a wealth of industry experience and unparalleled data-driven insights, providing the clarity you need to make informed decisions.
Our workView All
Beverage manufacturer & distributor
Personal property tax consulting, obsolescence, adjusted cost basis, unrecorded disposals
Double taxation of property, it happens more often than you think
Apr 16, 2021
What is double taxation and how does it occur?
5 steps to prepare for California Personal Property Tax Audits
Apr 14, 2021
The key to surviving is anticipation & avoidance of conflict.
Tax case on Disney resort may have significant implications for future hotel assessments in Florida
Aug 18, 2020
Rushmore approach criticized by District Court of Appeals has impact for similar cases moving forward.
5 Myths vs. Facts: reporting inventory on your personal property tax return
Apr 27, 2020
Do you handle market value, supplies versus inventory, and annual reporting correctly?
Need help with more services?
Connect with us and learn how we can help you see opportunities and maximize the value of your investments.
Recover overpaid taxes, reduce tax liabilities and minimize future exposure by working with our sales and use tax experts
Minimize the risk of a costly unclaimed property audit. Reduce exposure and effectively manage the unclaimed property compliance requirements in all states, U.S. territories, and Canadian provinces.
Minimize risk and enhance control measures on infrastructure projects with impartial expert advice.
Physical asset management
Understand the current state of your facilities and their maintenance practices so you can make asset and operation decisions.
Cost estimating & pro formas
Set realistic budget and development scenario expectations and maintain them.
Project & loan monitoring
Get peace of mind with accurate reporting on construction progress and cash flow from an independent project monitor.
Reduce project risks and construction costs with sound procurement, contract and dispute resolution strategies.
Keep decision makers informed with insights and data from experienced development consultants.