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Arizona - Tax Relief Measures Abound
Arizona taxpayers could be voting on sweeping property
tax reform this year. One proposal would emulate
California’s Proposition 13 tax cap law, while other
plans would rollback tax levies or property valuations.
Highlights of the proposals are inside the full article.
Supporters have until July to collect enough signatures
to
put the measures on the November ballot.
Get the full story
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Colorado - Lawsuit Challenges
Tax Rate Freeze
The mill levy freeze approved last summer by the
Colorado Legislature and the Governor is
unconstitutional, according to a class action lawsuit
filed last month.
The suit, which may be heard this month in Denver
District Court, alleges the freeze actually amounts to
a tax increase for some property owners and therefore
must be approved by voters under the Taxpayer’s
Bill of Rights.
Get the full story
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Cost Segregation Services - Demand Quality
Cost segregation can save your company tax dollars by
utilizing shorter recovery periods to accelerate the
return
on capital from your investment. However, not all cost
segregation providers offer the same expertise.
In general, a study by a construction engineer is more
reliable than one conducted by someone with no
engineering or construction background. Experience in
cost estimating and allocation, as well as knowledge of
the applicable law are important criteria that
differentiate POER from other cost segregation service
providers.
Get the full story
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Ohio - Tax Changes
2008 is the last year that Ohio businesses will pay
tangible personal property taxes. The phase out of
personal property taxes comes following legislation
approved in 2005.
However the tax burden is not lessening. As personal
property taxes decline, the new commercial activity tax
(CAT) will increase starting April 1.
Get the full story
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Pollution Control – How to Maximize Your Tax Savings
Property tax exemptions are offered in many states for
water, ground, or air pollution abatement. Pollution
control equipment must be certified by a state agency at
the time of installation before you can claim it as
exempt on your tax returns and renditions.
It’s possible to dramatically increase your exemptions
by
identifying specific components that relate to pollution
control. POER has achieved significant tax savings for
our clients by unearthing these otherwise subsumed
expenditures.
Get the full story
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Texas - Exemption Granted for
Goods in Transit
A new law (HB 621) went into effect January 1 allowing
tangible personal property held temporarily in Texas for
assembling, storing, manufacturing, processing, or
fabricating purposes to be tax exempt.
The exemption is similar to the Freeport exemption
except the inventory being transferred does not have to
go out of the state.
Get the full story
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Tax Consultants
Deliver Savings
44%
of commercial property owners in Dallas County, Texas
appealed their 2006 valuation.
Almost
50% won a
reduction.
75%
of them used a property
tax consultant.
These are
just some of the findings of a study conducted
by The Dallas Morning News.
The
success of property tax appeals and reductions awarded
varied based on the type of property and the location.
Malls, apartments, supermarkets and office buildings had
the highest success rates. (See chart below.)
The
newspaper pointed out that, “Marvin F. Poer and Company
had the highest success rate with commercial protests
among tax agents who handle a high volume of cases. The
company won 61% of its cases and had a 14% average value
reduction.”
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Dallas 2006 Commercial
Property Appeals |
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Category |
Success
Rate |
Amt. of
Reduction |
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Malls |
100% |
9.6% |
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Apartments |
60.2% |
13.7% |
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Super-
markets |
58.8% |
15.7% |
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Office Bldgs |
58.6% |
15.4% |
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Warehouse
/Industrial |
53.1% |
17.7% |
|
Hotel/Motel |
44.1% |
11.7% |
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Source:
The Dallas Morning News
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