If you’re a business owner…
Did You Know You Can Reduce Your Business Personal Property Tax (BPP) by 40 to 50% and Save Thousands?
You can enroll in our Business Personal Property Program that will show your potential tax savings… but you must act now.
The deadline to file an appeal is fast approaching.
Don’t Take the Appraisal District’s Guesstimate of Your Value!
Request Your Free Evaluation Today
YES, I WANT TO ENROLL IN THE BUSINESS PERSONAL PROPERTY PROGRAM.
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As a business property owner, you’re probably facing three major issues.
First, the property tax code defines the method of valuation for business and personal property (BPP) as “market value.” However, most appraisal districts still render your property on a “depreciated cost” basis. This means you can be overpaying on property taxes every year.
Second, over the past 25 years, we’ve found the appraisal districts make 3 major mistakes in valuing your bpp:
- Using inaccurate depreciation tables
Appraisal districts use a physical-life depreciation schedule that grossly over-values personal property. For example, district tables would value a 1-year old chair at 86 to 90% of its cost. Hence, a $300 chair would be valued at $252-$270, when its true value is likely $20-$50. - Taxing on intangible personal property.
ONLY tangible personal property (items you can see, touch, feel and move) is taxable. If you have a $2,000,000 phone system the total cost includes tangible (plastic, metal, and silicone) and intangible (service agreements, software, and trade secrets) property. Districts encourage property owners to render the TOTAL cost, which is not correct. - Encouraging property owners to include inappropriate costs
Freight, setup costs, and specialized buildings to house equipment, while included in depreciation tables (appropriate for the IRS) are dead wrong for personal property taxation.
The appeal deadline is varies by county. Click here to see the deadline for your county. Whether or not you rendered your business personal property, you still needed to file your appeal by the deadline.
We know from our 25 years’ history in appraising BPP and commercial real estate that rendering an opinion of value can reduce the amount rendered by 50% or more. This means your market value will result in lowering your bpp taxes.
Rendering an opinion of value can reduce the amount rendered by 50 to 70% or even more in some cases.
All you need to do is have O’Connor prepare a complimentary evaluation of your BPP and see what your savings can be.
ENROLL TODAY In the Property Tax Protection Program™
Your property taxes will be aggressively protested every year by the #1 property tax firm in the country. If your taxes are not reduced you PAY NOTHING, and a portion of the tax savings is the only fee you pay when your taxes are reduced! Many FREE benefits come with enrollment.
Property Tax Protection Program™ Benefits
- No flat fees or upfront costs. No cost ever unless your property taxes are reduced.
- All practical efforts are made every year to reduce your property taxes.
- Never miss another appeal deadline.
- Property taxes protested for you annually.
- You do not have to accept the appraisal district's initial guesstimate of value.
- We coordinate with you regarding building size / condition to avoid excess taxes.
- Free support regarding homestead exemptions.
- Some years are good - typically 6 to 7 out of 10 will result in tax reduction for you.
- The other 3 to 4 years out of 10 we strike out. Most often due to people issues in the hearing process. Some years we get an easy appraiser at the informal; some years someone who is impossible to settle with.
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