Strong as steel, yet obsolete.

Advantax identifies functional and economic obsolescence issues for a steel manufacturing facility, saving company over $600,000

 

THE CHALLENGE

The West Virginia steel manufacturing facility under appeal was an integrated steel mill, facing functional and economic obsolescence issues, including excess operation costs and decreased production demand.

THE SOLUTION

During the valuation and appeal process, Advantax identified several instances of functional and economic obsolescence affecting the facility.

THE RESULTS

The matter was resolved before two county boards and with the West Virginia Department of Revenue, decreasing the value from $225 million to $212 million, resulting in total tax savings in excess of $600,000.

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