Services
Business Personal
Property

Compliance and more with strategic consulting focused on local and national needs.

BUSINESS PERSONAL PROPERTY CONSULTING

A UNIQUE COMBINATION OF
SYSTEMS & PROCESSES THAT DELIVER

The experts in fair market valuations, TAG has a long standing reputation for mitigating our clients’ risk and exposure to overpaying Business Personal Property taxes.

Our Business Personal Property System encompasses our dedicated service model (functionally specializing in customer success) and our property tax management software to deliver savings results for leading brands across a wide variety of industries.

Taking the tax code at it’s word, our highly specialized consultants achieve substantial value reductions by filing fair market value in multiple states in addition to our national compliance work; making our unique model of property tax consulting the sought after approach for today’s finance and tax teams.

CAPITAL PRESERVATION

BPP fair market valuations to preserve capital coupled with years of experience in standard multi-state compliance.

CUSTOM ANALYSIS

Custom in-depth analysis of your business practices, assets, and inventory to identify cost savings and/or ensure compliance.

ASA CERTIFIED APPRAISALS

Utilization of independent, third-party ASA certified appraisers who specialize in fixed asset and inventory valuation.

PROACTIVE APPROACH

Verified methodology to determine values that reduce tax liabilities, mitigate risk, and maintain compliance.

VIDEO TUTORIALS

Watch short videos that explain our approach in greater detail

TAG’S APPROACH

TAG’s approach to preserving capital and increasing profitability through the reduction of business personal property tax.

REDUCE YOUR PROPERTY TAX

How our fair market value approach for business personal property minimizes tax liability. 

GETTING STARTED WITH TAG

A brief overview of how easy it is for TAG to become an extension of your team and begin delivering bottom line results while minimizing your team’s time investment. 

PROFITABILITY AT STAKE

SIGNIFICANT OPPORTUNITY
TO REDUCE WASTED SPENDING

Overassessment of business personal property costs businesses millions every year. Yet BPP is often overlooked as nothing more than a compliance matter.

While compliance is an aspect of BPP, the overassessments associated with these property types can often be addressed to reduce wasted spending.

In state’s where fair market renderings are available, significant savings can be realized.

THE USUAL APPROACH

1. YOU RENDER YOUR BPP’S COST & AGE

The method most companies and consultants use to report their assets and inventory, which is then valued by tax jurisdictions using outdated mass appraisal models to set values you are taxed against.

2. APPRAISAL DISTRICT SENDS ASSESSMENT NOTICES

Values are determined using typically inflated depreciation tables reflecting values above true fair market that never go to zero as GAAP allows.

3. YOU MAY OR MAY NOT APPEAL

Businesses often accept these inflated values not knowing their rights to file fair market, or they appeal each season embarking in costly review board hearings to perpetually fight assessed values.

4. YOU FILE YOUR TAXES

Taxes are filed, confirming agreement to the cost & age inflated values rendered, those values are set for the year, and property tax is paid.

THE BETTER APPROACH

1. YOU RENDER YOUR BPP’S MARKET VALUE

In states where applicable, values are rendered leveraging 3rd party appraisal data for fair market value (which is typically 30% below the taxing jurisdiction’s mass appraisal tables) instead of filing cost & age. 

2. APPRAISAL DISTRICT SENDS ASSESSMENT NOTICES

Based on applicable tax laws, taxing jurisdiction’s are required to compare values rendered against supporting market value data for like and similar property.

 

 

3. TAX VALUES ARE ALIGNED TO JUSTIFIABLE AMOUNTS

Values are aligned with fair market and rendered based on supporting 3rd party appraisal data for like and similar assets and/or code definition of inventory.

4. YOU FILE YOUR TAXES

Taxes are filed against aligned values considering a good faith estimate of market value, confirming the taxing jurisdiction’s acceptance of rendered values. Those values are set for the year, and lower taxes are paid.

BONUS

5. YOU NOW HAVE A RESOURCE TO SUPPORT ANY APPEALS OR LITIGATION

TAG renders values, addresses alignment concerns with taxing jurisdictions, and or appeals/litigates on your behalf.

READ LATEST BPP NEWS

what rising costs mean for your BPP tax bill

Third-Party Appraisers, Index Factors, and You: What Rising Costs Mean for Your Tax Bill

With the United States currently experiencing historically high rates of inflation, we are seeing an increase in the index factors used by these third-party appraisers across the board, with some showing a significantly higher increase than in previous years.

Discussing these rising costs, Tax Advisors Group’s Senior Director of BPP Consulting Chad Wallace said, “When using these higher trend factors, we are seeing some values becoming higher than they were in the previous year.” He went on to say, “Index tables are very high this year compared to prior years, adding that “trend factors are around 20% higher than prior years.”

READ FULL ARTICLE

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