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Recent Posts

4 Commercial Property Valuation Methods (So You Know How To Appeal)

Posted by Carl Hoemke on Jul 3, 2018 10:46:57 AM

You’ve just received an assessment notice for one of your commercial properties—now what? If the amount seems too high, hopefully you or another member of your property tax team will check the accuracy of the valuation by using one or more commercial property valuation method, and then appeal if need be. (Don’t have time to do all that? There are software tools that can help.)

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Topics: Property Tax Appeals

Managing Your New York Business Property Tax

Posted by Lisa English on Jun 22, 2018 8:00:00 AM

New York businesses have an uphill climb when it comes to property tax, and corporate tax rates in general—it is ranked 49 out of 50 (just above New Jersey) on the Tax Foundation’s state-by-state comparison with regard to business tax climate. New York has, however, in recent years been making strides toward improving its tax system by enacting things like a two percent property tax cap and real property tax relief credits. Still, the tax climate may be a reason why some companies have chosen to leave the state (though that perspective is debatable).

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Topics: New York property tax

How Robotic Process Automation is Changing Finance & Accounting

Posted by Tim Clark on Jun 20, 2018 9:13:51 AM

Automation in finance—is such a thing possible? With the way digitization is being integrated across nearly every business dimension, the answer is a resounding yes.

The specific automation area we’re referring to is robotic process automation (RPA). Putting it simply, RPA is a software application that executes programmed tasks. In a financial context, it offers a way to digitize the back office.

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Topics: Automation in finance

16 Best Conferences For Property Tax Professionals

Posted by Carl Hoemke on May 31, 2018 8:00:00 AM

Like every industry, property tax has its share of conferences. Whatever you’d like to know more about, whether it’s real estate, personal property, business valuation, compliance, depreciation, tax technology, or anything else, there’s probably a conference that covers it. You’ll also find conferences that specialize in certain industries (like the Broadband Tax Institute’s annual conference for internet and cable companies) and ones that focus on taxation in certain regions (like the Texas Association of Assessing Officers conference). There’s no shortage of learning opportunities for those looking to expand their knowledge and skills.

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Topics: Property tax

What Will Property Tax Technology Look Like In 2020?

Posted by Brandon Van Volkenburgh on May 18, 2018 8:00:00 AM

By now you’ve heard all about it: Technology is changing the way people work. That’s true across all industries and workplaces, whether it’s the floor of a manufacturing facility or the office space of an insurance company.

Property tax management is no exception. Currently, a digital transformation is underway, giving property tax teams new and better ways to provide value to their organizations, become more efficient, and spend less money. It comes at a time when organizations are under increased scrutiny to compete with emerging, often global, competitors. Those teams willing to embrace advanced tax technology tools will be better positioned to meet the challenges that lie ahead.

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Topics: Property Tax Technology

A Sample Property Tax Appeal Letter & Tips For Successful Filing

Posted by Lisa English on May 10, 2018 8:00:00 AM

Taxes are still one of the certainties in life (it’s nice to know some things haven’t changed since the 18th century), but the same can’t be said for the amount of taxes paid. Thanks to the property tax appeal process, valuation amounts are never set in stone—as long as you take full advantage of your right to challenge an unfair assessment.

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Topics: Property Tax Appeals

How Can Property Tax Consultants Increase Their Effectiveness (& Advisory Opportunities)?

Posted by Carl Hoemke on May 7, 2018 2:41:28 PM

Those of us who do property tax advisory work know that thinking in a straight line doesn’t always yield the best, most profitable results. Creative thinking and research, on the other hand, usually uncovers numerous (legal and value) discrepancies leading to identifying over-assessments. Knowing how to best measure these will ensure you provide the best advice to your clients—and doing good work generally means more advisory work for you. Below are a few ideas for the assessment of business personal property values I’ve used in the past to assist clients; at one time or another, they’ve all benefitted a client and increased the value of my property tax advisory services offering.

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Topics: Property tax advisory

What’s An Acceptable Level Of Penalties For An In-House Property Tax Team?

Posted by Carl Hoemke on Apr 13, 2018 2:21:38 PM

I think it’s safe to say that all property tax teams strive to avoid penalties. But they happen. Teams working for companies with a large number of properties sometimes don’t have enough staff to keep up with deadlines or they have new, untrained staff members. Other times a failure in the process leads to a missed deadline, and extra expenses are incurred. But just because penalties happen doesn’t mean they’re acceptable—or that you should stop searching for ways to avoid them.

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Topics: Business property tax

Property Tax Comparison By State For Cross-State Businesses

Posted by Lisa English on Apr 3, 2018 1:16:14 PM

If you’re operating your business in multiple states—or are contemplating putting down roots in another state—tax policies and obligations are probably already top of mind. Particularly if you’re planning to invest a substantial amount of money into a new facility, you’ll want to have a good understanding of your tax burden before you commit. But even if you’re already located in more than one state, you and your tax team are likely spending a lot of time keeping track of bills and deadlines for your various locations. Whichever situation you’re currently in, you need a resource that can help you make sense of it all.

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Topics: Property tax

Where Is The Tax Industry With RPA, AI & Machine Learning?

Posted by Carl Hoemke on Mar 22, 2018 1:01:20 PM

When was the last time you or anyone on your property tax team went home at 5 P.M. on a workday during tax season?

Sounds impossible, right? Well, that was the case with one of our clients, whose office I stopped into recently at the end of a workday. The place was deserted. When I asked where everyone was, the response was, “They went home. They’re done!”

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Topics: Property Tax Technology