Given the outstanding success we have had developing our proprietary Property Tax system (PVSpts), we have tackled the in-house development of a proprietary sales tracking system (PVSsales) and Sales and Use tax system (STS) as well.
Unlike income taxes, property tax due dates and payment options vary from state to state and sometimes within the state. Depending on where your business is located, you may pay property taxes directly to the county, school district, city or another jurisdiction.
A common and unfortunate property tax misstep for companies involves tax bills. Your property tax bill is largely based on where your property is and what it’s worth. But keeping track of what you owe might not be as easy as it seems.
Understanding your assets and your local jurisdiction’s assessment guidelines will ensure you are only paying your fair share of taxes and will prevent your business from encountering problems further down the road.
Businesses who manage their tax payments in-house are likely to have additional costs, see inefficiencies in their process and work harder to overcome unnecessary challenges.
Every year, all businesses (except in a handful of states) are required to pay property taxes on the assets they own and utilize to operate their business. This includes equipment, computers, furniture and, in some states, inventory and supplies.
Property Valuation Services is a boutique property tax consulting firm, specializing in the reduction of property tax liability for our clients.
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