Freeport Exemption Saves Company $42,000

Executive Summary

PVS took over the personal property tax compliance responsibilities for an aircraft parts company with a warehouse in Texas. In reviewing the prior year’s filings for their centers, PVS had identified that this company was not taking advantage of the Freeport Exemption, which PVS believed they would qualify for.

Challenges

PVS reviewed the financial information for this client, along with their sales and shipping data and analyzed how quickly their inventory moved through their warehouse in Texas. By doing so, PVS found that this client did qualify for the Freeport Exemption.

How PVS Helped

PVS analyzed the data from this client and prepared and filed the Freeport Exemption for this client, so that they could claim this benefit.

Results

PVS was able to save this client over $42k in personal property taxes by filing the Freeport Exemption.

PVS prepared the Freeport Exemption application, in association with their business personal property tax rendition and ultimately, the Freeport Exemption was granted. This exemption reduced the personal property taxes for this client by over $42k.