JM Tax Advocates Presents
How Are You Managing To Avoid Unexpected Property Tax Increases?
- Approximately, 80% of manufacturers expect that the pandemic will have a financial impact on their business through revenue loss, unanticipated expenses, reduced utilization, layoffs, and supply chain disruptions.
- During these unpredictable times, leading manufacturers have an ongoing evaluation of many of their expenses, including business property taxes. They see that the next few years could be a perfect storm with extraordinary property tax bills as many government municipalities have announced massive, COVID-related property tax hikes to shore up their tax revenues.
Fortunately, much of these increases can be avoided through a COVID property tax planning strategy that includes a review of your business circumstances and analysis of the loss on value.
Here’s What You Will Learn…
Covid Impact on Property Taxes
During times of business decline, such as our COVID-related recession, there have been winners and losers with some companies particularly impacted through declining revenue, utilization, occupancy, and rising costs of doing business.
COVID Impact on Manufacturers
Manufacturers are facing continued downward pressure on demand, production and revenues as the COVID-19 pandemic intensifies
At JM Tax Advocates, we:
Assess
Assess initial real and personal property tax opportunities.
Compare
Compare assessment with market data analysis.
Identify
Identify and calendar statutory deadlines.
Implement
Implement findings through appeals or amendments.
Validate
Validate secured savings through property tax statement review.
How JM Tax Advocates Can Help
We are here to handle the appeals process and negotiate a tax bill that makes sense. We can take the whole project over on a contingency fee basis – and chances are, we’ll come back with significant savings for your company!
The key for a successful result is to plan diligence and uncover any overages prior to annual return amendment or real property tax appeal deadlines.
COVID Property Tax Assessment Review Plan
The challenge with property tax filing and valuation methods is that they’re complicated. Documenting COVID valuation loss can lead to particularly significant reduction opportunities in times when businesses need all the help that they can get.
Implementing an effective COVID property tax relief plan starts with getting ahead of future appeal deadlines by leveraging experience to drive the plan.
