Not Just Knowledge. Know How.
Our Business Personal Property division is staffed with former assessors and valuation experts. Combined experience in the business personal property tax arena exceeds 50 years, and the team has handled more than 3,000 appeals and audits.
Business personal property taxes apply to the assessed value of unsecured property, defined as all property other than real property. Each year, every company must file a Business Property Statement, known as Form 571-L, with the County Assessor. The task is often handed to a junior staff member who lacks the specialized knowledge to categorize assets correctly, or to a CPA whose expertise lies in other areas of tax. Both routes lead to misclassifications, and misclassifications lead to higher taxes.
What We Handle
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01
Audits
Companies are audited once every four years. Time constraints on county auditors mean errors are common, and those errors can result in hundreds of thousands of dollars in excess taxes, penalties, and interest.
Our expertise lies in identifying those errors during the audit process, finding misclassifications and incorrect depreciation methods, and building rebuttal arguments for lowering values. Disputing audit findings is comparable to acting as counsel in a trial. Without expertise in both the subject matter and the process, the chances of succeeding are considerably diminished.
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Appeals
Each year, every company is entitled to appeal the assessed value on its unsecured property tax bill. Filing windows vary by county, and missing a deadline forfeits the right to appeal for that tax year.
We build the case for lowering assessed values and file the appeal on your behalf. You are an expert in your business. When it comes to business personal property tax, put an expert to work for you.
Paramount Property Tax Appeal significantly reduced my tax bill. Their constant communication and expertise made the tax appeal process painless for me.