Identifying Risk and Opportunity
Just filing new purchases without a thought of what the new asset may have replaced can be costly.
• Did it replace an old one?
• Was this asset entry really a repair?
• Was this asset not taxed in this jurisdiction?
• Is this asset really classified as real estate in this jurisdiction?
Many “special use” facilities and the related equipment have issues that cause obsolescence. These could contribute to a loss in “market value” and should be reviewed for possible tax relief.
Preserving Reputations and the Right to Protest Taxes
A well-managed program is needed with Complex properties. Not only is the assessment analysis a challenge, but a conscience effort must be made for the possible publicity and public image concerns our clients may have during this process.