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Tax Bills: Your Best Steps

A common and unfortunate property tax misstep for companies can involve tax bills.  Keeping track of what you owe in property taxes seems easy, right?  Maybe not…

Tax bills look completely different from one jurisdiction to another. Keeping track of what you owe, who it should be paid to, when the deadlines are, whether or not there is a discounted amount if you pay it early, are there installment options, and comparing the bills against the original Assessment Notices to ensure the amounts are all correct can create problems.  This is all assuming a company has a solid process so that the person responsible receives the tax bill in the first place.

These missteps lead to late payments that will then include penalties.  No one enjoys paying their property tax bill, but paying penalties for an oversight can be frustrating. So how do we avoid issues?

PVS offers a large array of services, one important service being our Tax Bill Approvals.  Instead of hoping you receive your tax bill and can translate it, let us track your notices and tax bills for you.  We will not only upload these documents into your secure online Client Web Access account, but we will review your tax bills for accuracy and send a standardized Tax Bill Approval via email.  This email will list who you send the payment to, when the deadline is, what discounted dates or installments are available, and how much to pay.  We will also attach the original tax bill to your email for your records.

Tax Bill Approvals are just one of many services we provide that set us apart from other tax firms.  Let us know how we can best help you.

Texas Property Tax Appeal Options

Texas is heating up…right now!  As a Texas property owner or lessee, you are either in property tax assessment reduction negotiations, attending protest hearings, or just finished your ARB proceedings and are awaiting your result.  Remember, if you did not obtain the value you wanted, further appeal options may be available. PVS is skilled in navigating our clients through property tax litigation, often obtaining additional value reductions through informal settlements or mediation. You have just 60 days to file to District Court once you receive your Board order, so don’t delay. If you didn’t file an annual appeal this summer, Texas offers a second chance protest opportunity called a 25.25 appeal, filed before your taxes on the property become delinquent. Your assessment must either contain a material physical error, such as erroneous sq. footage, or it must be 1/3 over market value to file this form of appeal.  This alternative is very intensive and is better discussed personally, so give PVS a call to determine if you qualify.  We can be reached at 913-498-0790.  You will not be disappointed!

Visiting Clients in Tennessee

A partner and Vice President with PVS just arrived today in Tennessee to visit with many of our high-profile Healthcare clients.  Alongside them is our Director of SALT Solutions, who was requested by one of the many clients we have in Tennessee.

As many of you already know, we cut our teeth in Healthcare.  Two of our partners, a former Healthcare executive and a former Healthcare Property Tax Director, who worked for the largest for-profit Healthcare Company at the time, formed PVS to fill a niche that existed in Personal Property for Healthcare.  That niche has grown into providing Compliance, Assessment Reduction and Audit Property Tax services for Business Personal Property and Real Estate for over 700 clients nationwide.  Additionally, the same partners formed the company State and Local Tax Solutions, or SALT Solutions, to fill a need for Sales and Use Tax Consulting that is independent and non-biased.  With both PVS and SALT Solutions having niche expertise in Healthcare taxes we often work side-by-side in harmony for our clients.

PVS makes an attempt to see as many clients as possible every off-season.  We want to make certain that our clients have a voice regarding our services, providing insights on the services that are working and the ones that are needing tweaks.

Our business does not exist without the work of our highly skilled staff being held accountable by the needs of our clients.

Wish us all the best as we traverse the ever changing Healthcare market that is ever-expanding in Tennessee.  Happy Father’s Day to all!

A True Property Tax System Designed By Tax Professionals For Tax Professionals

Here at Property Valuation Services we use PVSpts, a proprietary tax consulting software developed to address our real and personal property tax needs. This system was developed by tax professionals, for tax professionals.  Through continuous development over the last 19 years it has been adapted to clients’ requests, to comply with evolving taxing rules, to improve efficiency, and to utilize technological improvements.  The software package allows us to track clients’ parcels, assets, and associated taxes to ensure proper compliance and valuation.

Many of our clients need assistance in the area of personal property tax compliance.  The proper tracking, reporting, assessing and taxation of tangible personal property assets is a challenging process without the proper tax compliance software.  Our PVSpts system allows for the detailed review of our clients books and records through our proprietary database to identify areas of potential tax savings.  Additionally, once these assets have been entered into our system, PVS ultimately maintains an additional set of property tax books reflecting our clients assets in detail.  This is extremely helpful to allow for the accurate reporting of these assets each year as these returns are typically required on a yearly basis.  This continual requirement poses a problem if these returns must be created from scratch each year.  In addition to this accuracy, this software also allows our firm the ability to compute, file and argue for the most aggressive final assessed values for our clients.

Property Tax is an extremely deadline driven arena.  As such, a software system is critical to remind of impending tasks.  These deadlines tend to be specific to each individual taxing jurisdiction.  This can ultimately result in a tremendous volume of time sensitive actionable deadlines for each client’s property.  Once each property is loaded into our software system, our consultants begin tracking each deadline and preparing appropriately.  Our database contains years of compiled information concerning these impending deadlines providing our consultants and clients the ability to navigate with ease.

Finally, through the PVSpts system, our compliance clients can access their data via the web.  Clients can access electronic copies of documents such as tax returns, assessment notices, and tax bills.  Additionally, customizable reports are available.

MAI Appraisers in Nashville

One of our Partners, along with our Technical Director for Real Estate, recently spent a week in Nashville at a continuing education class to maintain their MAI designation and appraisal licenses.  If unfamiliar, MAI is the highest designation for an appraiser established by the Appraisal Institute. To become an MAI an individual must have good moral character, be a Certified General Real Estate Appraiser, hold a bachelor’s degree, meet standards and ethics requirements, pass rigorous education requirements, pass a challenging final comprehensive examination, receive credit for over 9,000 hours of valuation experience, and receive credit for the demonstration of knowledge requirement. To maintain this designation and appraisal licenses, continuing education classes are required to build and maintain skills and depth of valuation methodologies. Continue reading “MAI Appraisers in Nashville”

Business Personal Property Tax – What Should You Be Paying?

Why are you paying excessive property taxes?

The world of Business Personal Property (BPP) Tax can be as simplistic or as complex as you want it to be. For most companies, this type of tax is not a priority. There are numerous other tax responsibilities weighing on a tax or accounting department that require a much larger time commitment. The fact that BPP is one of your company’s largest annual liabilities becomes outweighed by the lack of attention it really needs… so why waste the time? Continue reading “Business Personal Property Tax – What Should You Be Paying?”