Ace Your Business Personal Property Tax (BPP)
Avoid overpayment. Save Time. Focus More on Your Business.
Property Valuation Services (PVS) is a property tax consulting firm specializing in understanding your properties from an analytical and accounting perspective.
Since 1997, our team of accounting-based staff and finance specialists have consistently discovered property tax savings for our clients, even when working behind other consulting and tax firms. We go beyond what local certified public accountants or general tax consulting firms offer.
What is business personal property tax?
BPP tax is a self-reported tax in which taxpayers file returns listing tangible personal property their businesses possess as of a specific date. Taxable personal property includes furniture, fixtures, machinery, computer and office equipment, vehicles and inventory. If it’s not real estate, it’s likely business personal property.
Failure to file business personal property tax renditions can result in arbitrary assessments by county assessors.
Depreciation tables are commonly used, considering the acquisition date and cost of assets, to account for their declining value over time. These tables often include various rates of depreciation to accommodate different asset types.
Are you overpaying for your business personal property taxes?
Companies often utilize complex, high-tech equipment to deliver superior products and services.
However, this type of technology-forward property also leads to increased assessed value by the assessor’s personal property division.
At PVS, we possess a unique advantage by combining technology and product specialists with seasoned business personal property tax professionals.
This powerful blend enables us to develop exclusive, cost-cutting methodologies that result in substantial property tax savings for our clients.
Our comprehensive services include:
- Cost-Reduction
- Compliance
- Assessment and Tax Bill Approval
- Audit Defense
- Tax Budget Assistance
- Appraisal Services
- Depreciation Expense Calculation
- Reporting
- Property Tax Research Assistance
The Tax Foundation states that local governments primarily impose taxes on BPP, although they are regulated at the state level. The state typically determines the differences in property classifications, assessment ratios and exemptions that constitute the variation in taxation. Local governments then choose to levy taxes within these limits established by the state.
Delaware, Hawaii, Illinois, Iowa, New York, Ohio and Pennsylvania do not tax BPP. Five other states — Minnesota, New Hampshire, New Jersey, North Dakota and South Dakota — generally exempt tangible properties from taxation except for specific industries like public utilities or oil and natural gas refineries, which are assessed centrally.
How can property owners dispute their tax assessments across different states?
Throughout the United States, the process of challenging a property tax assessment is known by different names, such as appeal, protest, abatement or petition.
A business personal property tax protest is a formal process by which business owners challenge their personal property’s assessed value for tax purposes. Local government entities determine the value of properties within their jurisdiction and calculate taxes accordingly. However, there may be instances where business personal property owners believe that the assessed value is inaccurate or unfairly high, leading them to file an appeal.
Regardless of the terminology, the objective remains to reduce the tax assessment and save valuable property tax dollars.
Why choose PVS?
As a trusted extension of your property tax department, we provide comprehensive representation for all business personal property tax-related matters to ensure property tax compliance and potential property tax savings.
Our team of nearly 100 dedicated professionals is led by experienced property tax professionals and backed by a Member of the Appraisal Institute (MAI) and the American Society of Appraisers (ASA).
We have served more than 800 clients with nearly 40,000 property tax parcels across all 50 states.
Are you ready to streamline property tax management and boost your bottom line?
Ace your Business Personal Property Tax (BPP) and keep your focus where it belongs — on growing your business!
Deadlines
- Oklahoma Mar 15, 2024
- Georgia Mar 1, 2024
- Colorado Apr 15, 2024
- Texas Apr 15, 2024
Success Stories - Real Results, Real Savings
- After taking over the personal property tax compliance responsibilities for an aircraft parts company with a warehouse in Texas, PVS was able to save this client over $42k in personal property taxes by filing the Freeport Exemption. Read More
- PVS worked with a leasing company to reduce property tax liability on a current client’s leased equipment, resulting in savings of over $220k in the first two years. Read More
Testimonials
“Ardent Health Services has utilized Property Valuation Services (PVS) for 22 years because the work and Services are best in class. I’m not aware of any other property tax firm that has the level of industry knowledge. The tax-savings generated annually by PVS would be enough on its own for our continued relationship, but PVS has become our go-to firm for property tax research, consulting and due diligence as well.” – Dave Courtney, Property Asset Manager
“Community Health Systems Professional Services Corporation has utilized Property Valuation Services in their property tax matters since 2002. Over the years they have developed a very personalized relationship with our company. Their work on various high-profile cases has shown a high level of integrity while striving to maintain our company’s best interests. Attention to detail, communication, timely and courteous response to requests and reliability are just a few words that describe PVS.” – Craig Pickard, Senior Vice President, Corporate Taxation
