Simplify Business Personal Property Tax Audit
Ensure accurate asset valuation. Avoid possible additional business personal property tax liabilities and penalties. Benefit from our expertise in managing complex audits.
Why Choose PVS?
Property Valuation Services is a specialized property tax consulting firm focused on reducing business personal property (BPP) tax liability for our clients for more than twenty years. As a trusted extension of your property tax department, we provide comprehensive representation for all BPP tax-related matters to ensure property tax compliance and potential property tax savings.
Our Expertise
- 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).
- Our executive team has 250 years of combined experience, having worked with major national corporations.
- PVS has served more than 800 clients with nearly 40,000 property tax parcels across all 50 states.
- Our expertise includes healthcare, high-tech equipment, and numerous industries with complex assets.
- PVS houses experts in BPP tax audits, including a licensed ASA Equipment Appraiser, to defend lower asset values.
Our Guarantee
Our nationally recognized specialty firm has a proven track record of success. We possess unparalleled credibility in managing our clients’ BPP tax responsibilities.
We have established strong relationships with auditors nationwide and third-party audit firms often engaged by assessor offices. If you have been selected for an audit, there is an excellent chance that we can assist you.
Our Approach
We prioritize your satisfaction by adhering to the highest quality, integrity and ethical standards.
Our inclusive and respectful work environment enhances teamwork and communication, ensuring effective collaboration and reliable results. This customer-focused approach guarantees we meet and exceed your expectations, delivering unmatched service and support.
Benefits of Partnering with PVS for Your Business Personal Property Tax Audit
Reduce Financial Impact
PVS effectively manages audits to prevent audit scope overreach, meticulously verifies all mathematical calculations and limits potential liabilities. Our expertise often results in significant property tax savings and helps avoid penalties and interest, safeguarding your company’s financial health.
Save Time
PVS understands the auditor’s requirements and efficiently facilitates all requests. As an intermediary for information exchange, PVS reduces the time required from you and your staff, freeing you to focus on your core business activities.
Simplify Audit Process
By handling all interactions with auditors, including responding to phone calls, emails and formal letters, PVS eliminates the hassle of dealing with confusing requests and constant inquiries, thus streamlining the audit process.
Property Tax Audit FAQ
What is business personal property tax?
Business personal property (BPP) tax is a self-reporting tax where taxpayers file returns listing tangible assets they possess as of a specific date. Assets commonly include furniture, machinery, computer and office equipment, vehicles and inventory. If it’s not real estate, it’s likely business personal property.
What are the best techniques on how to lower my property tax ?
To lower your property tax, thoroughly review your assets and ensure accurate reporting. Strategies such as asset valuation by licensed appraisers, leveraging exemptions and incentives and challenging assessments through audits can help reduce property tax liabilities.
Collaborating with experts, like those at PVS who specialize in property tax audits, can provide valuable insights and support in maximizing property tax savings while ensuring compliance with regulations.
How long does it take to settle a property tax audit?
Settling a property tax audit can vary in duration depending on the complexity of the case and the cooperation levels of all parties involved. Typically, it can take a few weeks to several months to complete the process.
Timely and thorough documentation submission, open communication with auditors and proactive resolution of discrepancies can help expedite the audit process and ensure a timely settlement.Simplify Business
What is the process of BPP Audit?
- Generate a list of items to be submitted to the auditor by a specific date.
- Gather and submit the required information to the auditor.
- Engage in discussions and potential requests for clarification or additional information once auditor reviews.
- The auditor issues findings, which may include an increase or decrease to the assessment or no change. If warranted, findings can be appealed.
- If the audit results in findings, a supplemental tax bill or refund will be issued.
Testimonial
“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, CHSPSC, LLC
Case Study
Regional Medical Center Saved $75M in Tax Assessment
Challenges
A tax assessor classified a hospital building on the tangible account as “Construction in Progress” despite it being more than 95% complete and partially occupied before the end of the year.
Results
PVS argued that the hospital building was “substantially complete” and should be classified as real property.
The board removed the $75M building assessment from the personal property tax parcel and assigned it to the real estate parcel instead.
