Methodologies
At PVS, we utilize the following methodologies to provide accurate and fair valuations for personal property and real estate.
Personal Property
Our comprehensive approach to personal property valuation includes the following techniques:
- Identification of High Technology Assets: We have expertise in identifying and valuing high-tech assets accurately.
- Cost Adjustments: We consider cost adjustments to ensure the valuation reflects the current market value.
- Modality Specific Depreciation Schedule: We utilize depreciation schedules tailored to specific modalities or industries.
- Market Approach for High-Tech Equipment: We employ market-based approaches for valuing high-tech equipment.
- Equipment Appraisals: Our team conducts thorough equipment appraisals to determine accurate values.
- AHA Useful Life Analysis: We perform useful life analysis following the American Hospital Association guidelines.
- Replacement Cost vs. Reproduction Cost: We assess the replacement cost versus reproduction cost for accurate valuation.
- Ghost Asset “Clean-Up”: We identify and rectify ghost assets to ensure accurate assessment.
- Identification of Non-Taxable Assets: We identify assets that may be exempt from taxation.
Real Estate
Our valuation methods for real estate include:
- Market Approach: We consider the market conditions and comparable properties to determine value.
- Income Approach: We analyze the income potential of the property to assess its value.
- Cost Approach: We evaluate the cost of construction and improvements to determine value.
- Additional Considerations: We also take into account various other factors, such as:
- Equitability: Ensuring fair and equitable assessments.
- Building Age and Type: Considering the age and type of the building.
- Needed Improvements: Assessing the need for any improvements that may impact value.
- Vacancy: Evaluating the impact of vacancy on property value.
- All Forms of Depreciation/Obsolescence: Considering depreciation and obsolescence factors.
- Highest & Best Use of Your Property: Determining the optimal use of the property for maximum value.
If we find the assessed value to be excessive, we will work with the local Tax Assessor to educate them on the basis for an appeal. We strive to collaborate with assessing jurisdictions to minimize any negative impact on our clients.
Contact us today to discuss how we can assist you.
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
