A Tax to Grind | A Blog to Enlighten and Entertain Those Afflicted with Property Tax

Personal Property Tax Assessments – A Fair Value?

Topic: A Tax to Grind, A Tax to Grind, Management, Property Tax Administration, Property Tax Assessment

Monday, 14 April 2014 by Advantax

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As compliance season begins to wind down, we in the property tax world are hit with an unsuspecting second burst of activity – property tax assessments!  As these assessments start to roll in from each individual assessing jurisdiction, it is your job as a member of the tax department to ensure that the values match (or at least come close) to the value you rendered.  There are a lot of questions to ask when identifying if & how an assessor accepted your value.

Did they remove the disposed assets?  Did they accept your categorization of the new additions?  Did they move that grouping of assets from one category to another as you filed?  Did they accept your claim for obsolescence?  Are the inventory exemptions being applied properly?

Starting with these questions and digging deeper into your property record card is a great way to not only ensure that you receive the value you filed – but to open the door to even more potential savings opportunities. It never hurts to have an annual conversation with the assessor, who is critically important to the value, which is the basis for your location’s tax budget.  If you don’t have time to dig into your assessments this summer, call Advantax.  We will be happy to help!

You can give us a call, or check out our Property Tax Consulting page on our website to learn more.

Where in the World are the PropTax Monkeys?? Curacao!

Topic: A Tax to Grind, A Tax to Grind

Thursday, 10 April 2014 by Advantax

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We are sending the PropTax Monkeys packing. Well at least exploring the globe for interesting property tax facts. This month they were in Curacao being road warriors with Advantax CEO, David LeVan, this is what they learned as they ran around the island:

There are no restrictions on private ownership of land or properties in Curacao.

There are approx. 150,000 people from 55 different cultures that live in Curacao, a Caribbean island off the coast of Venezuela, with Aruba in the west and Bonaire in the east.

As of January 1, 2014 property owners in Curacao are charged a progressive property tax/ground tax called “onroerende zaak belasting”.

One explanation for the origin of the name Curaçao is that it is derived from the Portuguese word for heart (coração), referring to the island as a centre in trade.

When establishing a mortgage on real estate properties the notary must collect a two per mil tax (“schuldbriefzegel”) on the capital amount of the mortgage.

We monkeys did our own photo shoot when no one was looking. If you want to see the official 2014 American Way Road Warrior magazine check it out here.

Do Property Taxes Really Matter to Businesses?

Topic: A Tax to Grind, A Tax to Grind

Monday, 07 April 2014 by David H. LeVan

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Ever had someone ask you why property taxes matter so much to businesses? Find out by watching our latest PropTax Minute.