Audit Tax

Are Your Under A Property Tax Audit?

Property Valuation Services has been handling the most complicated audit cases for more than two decades. We always put our clients first. Let us show you.

Why Choose Property Valuation Services?

Business personal property tax audits can create large tax liabilities as well as large levels of anxiety. Let experts help you.

Expertise

PVS handles hundreds of Business Personal Property Tax Audits every year for our clients.  We have been working property tax audits for decades and know what information to provide to an Auditor, how to protect your rights, as well as how to minimize your liabilities. Whether you were just pulled for audit, we can help you through the process, or if you have already received audit findings and would like for us to review those for reductions, PVS is here to help in any way you deem our services beneficial.

Financial Impact

 A Business Personal Property Tax Audit can result in unexpected tax liabilities, penalties, and interest that can cause irreparable harm to a company’s financial situation.  PVS knows how to manage an audit, protect our clients from Auditors’ attempts to step outside their scope, double check all mathematical calculations, and limit what potential liabilities an Auditor can assess.  We often save our Clients significant tax dollars, not to mention penalties and interest that can accompany these liabilities. 

Time Burden

Auditors typically request an unnecessary amount of information to perform an audit, require unreasonable time commitments from the taxpayer, and drag audits out longer than they have to be.  The combination of phone, email and formal letter correspondences, confusing requests, and constant questions can create a burdensome time commitment for you and your staff.  PVS knows what the auditor needs, can facilitate all requests, become an intermediary for the transfer of information, and extensively mitigate the time burden of this audit for you. 

OUR GUARANTEE

We house experts in BPP Audits, a licensed ASA Equipment Appraiser to defend lower asset values and a team of over 50 experts composing one of the largest boutique property tax consulting firms in the country. We have worked with the U.S.’s largest hospital corporations, manufacturing facilities, movie theaters, restaurants, businesses and more.

We have handled over 2,000 audits for our clients. We’ve built strong trusting relationships with auditors across the country as well as with third party audit firms that are often hired by assessor offices . If you have been pulled for an audit, there is a great chance that we can help you.

Our Approach

We house experts in BPP Audits, a licensed ASA Equipment Appraiser to defend lower asset values and a team of over 50 experts composing one of the largest boutique property tax consulting firms in the country. We have worked with the U.S.’s largest hospital corporation, manufacturing facilities, movie theaters, restaurants, businesses and more.

Case Study: Handling A Three-Year Personal Property Audit

 In 2019, PVS was asked to work with an auditor regarding an audit for tax years 2015 to 2017. The facility is a surgery center in the state of Connecticut. The initial audit findings showed an increase of value in the amount of $1.1M for the 2015 – 2017 years.

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After reviewing the findings and discussions with the county auditor, the increase of $1.1M was changed to a credit of $123K for a decrease in value of $1.2M or approximately $27K in tax.

Business Personal
Property Audit Process

  • List of items that need to be submitted to the auditor by a specific date.
  • Information is gathered and submitted to the auditor.
  • The auditor reviews the information submitted.  Typically, there are discussions at this point and possibly some questions requiring clarification or requesting additional information.
  • The auditor will issue their findings – which may include an increase or decrease to the assessment or may result in no change.  If the opportunity is available and warranted, the findings may be appealed.
  • If the audit results in findings, a supplemental tax bill or refund will be issued.

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