Personal Property Tax
Paradigm Tax Group’s personal property tax review and appeal services are performed by our own consultants who are primarily engineers, machinery and equipment appraisers and former tax assessors. These experts work on behalf of our clients and are skilled in jurisdictional rules and filing requirements, asset valuation and classification, as well as representing clients in both informal and formal reviews with assessing authorities. Many of our professionals teach and provide seminars for client personnel and various appraisal and assessing organizations.
Below are some steps that our consultants use to identify, qualify, present and instruct clients on how to become self sufficient in complying and filing personal property returns:
- Collect and review data necessary for compilation of all personal property tax returns.
- At client's convenience, conduct on-site research and inspections of each affected facility.
- Prepare well-ordered working papers for client files that represent a complete, easy to follow audit trail detailing
all deductions made from trial balance values.
- Prepare tax returns for client signature approval.
- Personally file and review tax returns with assessing authorities as necessary. Local property management participation
in these meetings is recommended.
- Check all assessment notices for accuracy, taking action as necessary to correct errors, including formal appeals.
- Check all tax bills for accuracy, taking action as necessary to correct errors, including formal appeals.
- Transmit tax bill approval/payment vouchers to appropriate client personnel if client deems such service necessary.
- Prepare annual estimates of individual property tax liability for budgetary purposes.
- Manage all jurisdictional audits.
- Prepare periodic property specific informational and performance reports as determined by client requirements.
- Act as consultant for ancillary purposes, such as "new facility" location analysis, recommend action to take advantage
of special jurisdictional tax reduction incentives, periodic tax awareness presentations to key client personnel etc.
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