At Ask Advantax, we do our best to answer all of your property tax questions.
Here are questions we recently answered about compliance– perhaps the answers are helpful to you:
Q: What are the benefits of outsourcing your property tax compliance and consulting?
A: There are A LOT of reasons why a property tax outsource might be right for you, including predictability and reduction of cost, peace of mind, and extra time for you to do what you truly do best! Property tax is all we do.
Q: What should you do if you get a tax bill for a closed location?
A: A property tax bill from a ‘closed location’ can occur for many reasons including: the wrongful filing of a return (even though the location had closed), the assessor not feeling that there was proper documentation to justify ‘closing’ an account, or an honest error on the assessor’s side.
Q: Are adjustments allowed to inventory for personal property tax reporting?
A: Those states that tax inventory for property tax purposes, tax it based upon fair market value. Adjustments to value may be considered. Typically these include adjustments for obsolete inventory, outdated inventory, unavailable inventory, spoilage, and other market value factors.
If you have any questions about property tax, Ask Advantax.