REDUCE PERSONAL PROPERTY TAXES. . .
INCREASE PROFITABILITY                                               
What should I know about Personal Property Tax? Personal property tax, imposed on capital machinery and equipment, furniture, computers and other tangible assets, is an area in which overpayment to state and county tax collectors is the rule rather than the exception. 

Our experience has been that the great majority of business personal property/machinery & equipment values, as determined through the various depreciation schedules used by counties throughout the country, are overstated and over taxed—often dramatically.  

Many companies today are choosing to outsource administrative functions such as property tax management, which are required of your business but create a burden on your time, staff and payroll costs.

Isn’t my Accountant the expert? Probably not. Your accountant is the expert when it comes to preparation of your company’s financial statements and tax returns. The personal property tax return, however, is an entirely different matter.

The laws and guidelines that govern this highly specialized
tax vary from state to state and even county to county. A misconception persists that the basis of reporting fixed assets for the personal property tax return must be the same as the basis for the accounting and/or corporate tax returns. In reality, property tax valuation and accounting/corporate tax reporting are “second cousins” – they start with the same data, but are computed and valued according to different methodologies.

The technical analysis that we employ converts the accounting
and fixed asset records to the personal property tax basis in accordance with state property tax guidelines. Historically, PTA has successfully produced tax savings in over 90 percent of the cases examined. Reductions have ranged from 18% to 64% of property taxes reviewed.

What if my Accountant is currently preparing my personal property tax return? You have nothing to lose by allowing us
to do an analysis. At minimum, your current procedures will be validated, at no charge to you. Alternatively, tax savings will be achieved both now and in future assessments.

How does PTA’s Personal Property Tax Service work? Our service is simple to use. To perform a complete analysis, all we require are the following:

• Your company’s prior year personal property tax return
• Your company’s fixed asset listing, and
• Your desire to pay less in property taxes

Property Tax Analysts, Inc. will then

1. Review assets that are reported as personal property. Frequent changes in property tax codes may validate exemptions or removal from your personal property filing.

2. Reclassify assets, where appropriate, to a shorter economic life, creating faster depreciation for property tax purposes. Opportunities to obtain more rapid asset depreciation are greater than ever due to the escalating use of computer-driven equipment in the workplace.

3. Analyze the market value of your major assets. Our experience has shown that the depreciation factors used in many taxing jurisdictions may not be reflective of true market value, resulting in over-assessment.

What does the service cost? Our compensation is based solely on a contingency fee, where we share in the tax savings generated as our form of payment. Consequently, we have every incentive to produce results for you. If you do not benefit, there is no charge for our analysis. In the event of an appeal, PTA is responsible for any costs associated with the defense of its filing. Our clients appreciate the fact that they incur no upfront or out-of-pocket fees.