Business Personal Property Tax
Complex business personal property taxes can significantly impact the bottom lines of our clients. Market factors and valuation errors in machinery and equipment often lead to overpaid taxes, with taxpayers across the nation not receiving adequate relief.
At Baker Tilly, we offer a unique level of personal interaction and responsiveness to address complex business personal property tax matters proactively. Our continual open line of communication ensures that no stone is left unturned in the review, valuation and appeal of our clients’ complex assets, minimizing their tax burden.
Complex personal property tax consulting
Valuing complex properties is a specialized process that often involves multiple data sources with varying formats detailing numerous assets per location. Patient and clear guidance is essential when partnering with a complex property tax provider.
Changes in personnel, audit notifications, unexplained increases in property taxes and unexpected fees from current consultants can threaten the bottom line of business personal property taxpayers. To avoid these costly circumstances, our property tax consultants recommend a proactive approach to tax savings.
Tax mitigation strategies for complex business personal property
At Baker Tilly, our complex business personal property tax consultants possess extensive knowledge of taxation patterns and tendencies across all jurisdictions, along with the relationships necessary to secure the reductions that complex business personal property taxpayers deserve. Our review process includes an analysis of the most historically effective tax minimization strategies, such as:
- Pollution control exemptions
- Freeport exemptions
- In utility studies
- Functional or economic obsolescence
- Abatement considerations
- Payment in lieu of taxes (PILOT) or fee in lieu of taxes (FILOT)