DMA’s Property Tax Assessment Review is a diagnostic review of your real and personal property taxes that have been assessed by taxing authorities. During the review, our property tax professionals focus on identifying opportunities for reducing both real and personal property tax assessments, which may result in opportunities for property tax overpayment recovery. We partner with you to review your entire portfolio of properties or individual properties of concern to you.
We visit and inspect every property and analyze all facets of the real and personal property tax assessments. We also focus on industry-specific issues having an impact on value, obsolescence, fixed assets, cost components, and exemptions. This includes inventory analysis, leased equipment analysis, and pollution control analysis. When analyzing valuation, we use comparable sales, pricing guides, replacement costs, and income stream. Our tax professionals provide you with a report that specifies our findings and provides recommendations for reducing assessed values. We also provide specific subject matter education to you and your staff regarding issues that affect assessments.
With your approval, DMA works with local assessing authorities to implement our findings in a positive, proactive manner. If necessary, we work on your behalf to resolve any issues through hearings, tax boards, and tax court. You can be assured that DMA’s local expertise and relationships will foster a speedy resolution to erroneous assessments, and for properties DMA deems fairly assessed, you can be confident knowing the taxes are appropriate.
DMA’s Property Tax Overpayment Recovery service focuses on identifying real and personal property tax refund opportunities by analyzing assessments in prior years. Real and personal property taxes paid in prior years are often recoverable when assessment errors or valuation issues can be applied retrospectively.
Our experienced property tax professionals analyze prior years’ tax bills, reviewing the accuracy of the data upon which the assessments were based. We identify taxpayer and assessor errors, alternative valuation approaches, and overlooked exemptions. Following our analysis, we provide you with a detailed report identifying potential refund opportunities, including all necessary support. As your partner, and with your approval, we file refund claims with the local taxing authorities and monitor the claims until we’ve secured all refunds for you.
DMA provides highly skilled property tax professionals having local expertise based on your specific needs. This ensures only legitimate refunds are pursued. And, it ensures you receive the most beneficial education to avoid future overpayments.
DMA’s Inventory Analysis provides a customized review of your stock of finished goods, work-in-process, raw materials, and supplies to determine if any tax exemptions may apply. We focus on establishing the correct range of value for inventory accounts, which benefits you prospectively.
DMA’s analysis starts with the collection of tax notices and tax bills for all inventory accounts. The values are then reconciled to the book inventory and any differences are accounted for and analyzed by our experienced personal property tax experts. We analyze all information regarding the inventory such as location, type, appropriate trade level, industry specifics, accounting, and current supply and demand economic factors. Once all information is gathered, we determine if the inventory is properly valued and if all exemptions are being taken. We then provide you with a report that explains our conclusions and recommended solutions. Finally, with your approval, we pursue exemption-based savings or valuation arguments with taxing authorities on your behalf.
Leased Equipment Analysis
DMA’s Leased Equipment Analysis helps you, as a lessor or a lessee, in reducing the taxable value on leased property. As a lessee, we ensure you are not overpaying the property tax expense included in the lease price charged by a lessor, which increases your bottom line. And, as a lessor, you can be confident that the taxable value has been reduced and is fair, which in turn ensures you are not at a competitive disadvantage due to property tax. We customize our approach based on your specific needs and provide a solution to the complicated and often perplexing world of leased property.
DMA provides experienced property tax professionals knowledgeable in the intricacies of lease agreements. For lessees, our analysis focuses on a review of leased property and the tax expense associated with the property. This also includes a review of lease agreements and appropriate invoices. Our property tax professionals determine a suggested taxable value for the property, which is compared to what the lessor charged. We report our findings to you and obtain your approval to pursue tax savings with lessors and/or tax jurisdictions, as appropriate. For lessors, we help reduce your leased property values and can assist you with your property tax compliance function.
Pollution Control Analysis
DMA’s Pollution Control Analysis ensures you are taking full advantage of any pollution control exemptions for property tax purposes, thereby decreasing your taxable property values and reducing your effective tax rate.
Our experienced property tax professionals possess jurisdiction-specific expertise along with the knowledge of specific pollution control exemptions. We review your fixed asset register and descriptions. In addition, we review asset appropriation justifications to identify qualifying projects and equipment, interview your key facility personnel, and tour facilities to completely understand the process and nature of the property. We then document the qualifying property, complete all necessary paperwork, and file the exemption(s) with the appropriate tax jurisdiction on your behalf. We ensure the exemption is ultimately secured for you. And, we provide you with a report documenting our findings and results so you can apply exemptions going forward.