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Services

Real Property Tax

Since 1989 we have successfully appealed over 1,000 real property assessments. We are well known and respected by assessing officials.

We will:

Obtain the assessor’s records and have one of our Indiana Certified Tax Representatives who is also a Level III Indiana Assessor-Appraisers (highest level granted) inspect your property.

• File appropriate appeal documents
• Look for factual errors in the cost approach used by the assessor to value your property and if found could result in refunds for prior years
• Collect all relevant information relating to the value of your property
• Research comparable sales and assessments
• When appropriate apply the income approach to value
• As your advocate proceed through the appeal process to lower your assessment

o Preliminary meetings
o County Property Tax Assessment Board of Appeals
o Indiana Board of Tax Review

Business Personal Property Tax

Almost every time we complete a detailed analysis of a manufacturer’s Business Tangible Personal Property Assessment Return (Form 103) we find a tax savings that will go on for years.

We will:

Review most recent filings and fixed asset depreciation schedule and inspect the machinery and equipment (if your assessment is very small we still audit but may not come to your site).

Go through asset list line by line to:

• Claim applicable deductions
• Accelerate depreciation on appropriate assets
• No longer report non-assessable assets. Did you know the appraised value of application software embedded in equipment is not taxable? There are many more reporting changes we can recommend.
• Prepare a report which we expect you to go over with your accountant for approval of our recommended reporting chances
• Prepare return incorporating all agreed upon tax reducing changes

Economic Incentive Deductions

Abatements

For whatever reason, many companies that could obtain an abatement never apply for one. Maybe they think abatements are only for large employers who are going to build large buildings and employ a large number of new employees or that the process to obtain an abatement is too complicated and time consuming.

Abatements are a very important cost savings tool that always should be considered. They can be granted on both new buildings and new (to Indiana) machinery/equipment. They can be granted for a duration of 1 to 10 years with a close to straight declining scale. For example, with a ten year abatement, the first year 100% of the abated property is exempt from tax, 90% the second year, 80% the third, etc. (it is very close to this but as with many government programs it is not exact). Although it is best to apply for an abatement before construction has started or before new equipment has been delivered to the site, we have been successful in having abatements approved after this time.

Our abatement team will prepare all necessary forms and filings and appear before the designating body (generally the town/city council) and continue to work to insure the abatement continues through the duration or its term. The additional work includes compliance forms that should tie into the original filings (which are very important – you do not want to overstate the benefit to the community).

Enterprise Zones

After the inventory tax was eliminated in Indiana, many companies did not see the benefits of retaining their membership in the Zone or applying for membership. However, the current real and business personal property tax savings can be very substantial for some companies (in addition to the state income tax deductions for employees and employers relating to employees that work and live in the Zone and the loan interest credit). In some cases the deduction can be claimed not only for new buildings or equipment but also on some existing buildings and equipment.

Effectively, there is no cost to be a member of a Zone because the fees charged by the Zone and State are a percentage of the tax savings – but the filings are complicated and can be time consuming. Many property owners, incorrectly (in our opinion), believe it is not worth the effort. We will make the effort.

Zones can be a very important cost savings tool that should always be considered by any company residing in a Zone or considering where to build. Zone deductions can result in more substantial savings than those obtained from property tax abatements and can be granted even after an abatement application has been denied.

Our Enterprise Zone Team will prepare all the necessary forms and filings and continue on the annual compliance to work to insure that the maximum tax deduction continues through the maximum term. Additionally, as necessary, we will meet with the granting authorities and appear before the appropriate boards. If you are already claiming tax deductions in the Zone, we will audit your filings and deductions to insure you are receiving the maximum benefit.

National Consulting Services

Please call us to discuss your property tax concerns in any state. We want to offer you the best service available. If we do not feel we have sufficient experience in a particular state, we will work with an expert in that state at no additional cost to you.