What should I know about personal property tax?

Personal property tax is a tax imposed by the county on capital machinery, furniture, equipment and other tangible assets. Many companies incorrectly think of this tax as a fixed expense. Because it is not fixed, the burden of this tax can be significantly reduced—resulting in increased profitability for your company! But, to realize the greatest benefit, you need advice from experts in the field.

Isn't my accountant the expert?

Usually not. Your accountant is the expert when it comes to preparation of your financial statements and/or business tax returns. The personal property tax return, however, is an entirely different matter.

What if my accountant is currently preparing my personal property tax return?

You have nothing to lose by allowing us to do a free analysis. At minimum, your current procedures will be validated. Alternatively, tax savings will be achieved and realized over the future assessable life of the asset.

Why is PTAG superior to other providers of this service?

We are often engaged to prepare a free “second opinion” analysis of cases examined by others in our field. In more than 90% of those cases, we find additional savings. The reason for the high percentage is that PTAG first focuses on valuation/cost reduction and then compliance. Most consultants in this specialized area of taxation are doing compliance only, without the cost reduction component.

Will much of my time be required to supply the information you need?

Not at all. To perform a complete analysis, we only need three items, which you have already prepared and/or received from the taxing jurisdiction: the prior year’s personal property tax return, asset listing, and most recent tax bill.

Can you analyze my real estate tax bill also?

Absolutely! We can do a free preliminary review to determine whether or not you are fairly assessed. If you are fairly assessed, we will let you know and nothing else needs to be done. However, if we feel you are over-assessed, we would like the opportunity to perform a full property tax review.

What is the cost?

PTAG’s compensation is based solely on a flat contingency fee. This means absolutely no risk to you. If you do not benefit, there is no charge for our analysis. When we do find savings, you will not receive a bill until the reduction has been approved by the taxing authorities and the assessor has accepted the return.